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If a mortagee an owner has an insurance policy on a building and the building burns who can recover losses?
Wiki User
∙ 16y ago
Each of the named beneficiaries of the policy and the insurance company can recover losses. A party with property within the building can file a claim for the damaged property, but it depends on the coverage offered by the policy that was purchased whether it will be paid out. A victim of a loss can file a small claim/lawsuit against the insuring authority and the owner of the building in an attempt to cover losses. You should first file a claim with the insurer prior to spending money on legal action. Often you can mediate with the company for compensation.
Wiki User
∙ 16y ago
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What is special about Key Person Insurance?
Key person insurance is an important form of business insurance. In general, key person insurance can be described as an insurance policy that is taken out by a business to remunerate that business for financial losses.
Is insurance a asset or liabilty?
Insurance can actually cannot be considered as an asset or a liability.. Infact Insurance is there to protect your asset for future needs and save you from financial crisis.. It reduces all the losses ocuured on any particular event..
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yes, up to what the policy limits are which is typically the entire amount.
What type or how much loss can be tolerated?
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Can you get home insurance if you have a felony?
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What exactly is insurance indemnity?
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Does building insurance cover losses due to accidents?
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Can you sell someone's stuff to recover stolen money?
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What is contributing to increasing rates in auto insurance?
They want more money :) The insurance rates are based off the number of claims. When natural disasters occur (like Katrina) insurance companies have to shell out large amounts of cash to cover claims. In order to recover their losses, they pass this cost onto their customers.
What is a perils?
Perils are types of losses. All losses(perils) covered by an insurance company will be in your insurance booklet that they mail to you.
What is Covered peril?
Perils are types of losses. All losses(perils) covered by an insurance company will be in your insurance booklet that they mail to you.
What is a covered peril?
Perils are types of losses. All losses(perils) covered by an insurance company will be in your insurance booklet that they mail to you.
The most common type of insurance for consequential or indirect losses is?
comprehensive insurance
What is the difference in renter and landlord insurance?
The diiference between landlord & renters insurance is that landlord insurance is a policy that covers property owner from financial losses with their property.Renters insurance is policy that cover the renter from financial losses or personal items.
What are clauses in the insurance contract that specify the losses that are not covered by the insurance?
There are 2 categories of these: exclusions and exceptions.
What is covered by Texas windstorm insurance?
Windstorm related losses are covered by Texas Windstorm Insurance
