The 72-hour clause in an engineering insurance policy is an advantage to the homeowner and not a disadvantage.
The 72-hour clause in an engineering insurance policy can be considered both an advantage and a disadvantage. On one hand, it allows the insured to make a claim within 72 hours of discovering any loss or damage, ensuring prompt coverage for immediate concerns. On the other hand, it imposes a strict time limit, which may be challenging for the insured to meet in situations with complex or latent damages that take longer to identify. Ultimately, the suitability of the 72-hour clause will depend on the specific circumstances and needs of the insured party.
transit clause marine insurance
You can find this by looking at the "Incontestable Clause" in your life insurance policy. The "Incontestable Clause" states that after the life insurance policy is in force for two years, the insurance company cannot void it because of misrepresentation or concealment by the insured in obtaining the policy.
The advantage is that the board can choose to purchase the unit before it is made available for sale to any other entity. There's really no dis-advantage, since the board can publish its non-intention to exercise this right, and the unit becomes available for sale to any other entity.
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NO, Increased Cost of Construction is exactly as stated, also known as "Replacement Cost". It does not affect the Coinsurance clause of your insuring contract
no
The clause in a policy of insurance on a motorcycle, provides that if the owner of the motorcycle is injured by a negligent driver of another vehicle who doesn't have liability or insurance, then the insurance company will pay its insured's damages.
Yes, When it comes to underwriting guidelines and acceptability of the risk. A grandfather clause does not circumvent your Insurance companies underwriting guidelines or eligibility requirements.
2 years.
An idemnity clause in health insurance means that a sum is paid by a party to another party by way of compensation for a particular loss suffered by the party receiving payment.
The Inchmaree clause is a coverage in marine insurance that protects the vessel's owner from property damaged or destroyed by the crew's negligence.