Is 72-hour clause in engineering insurance policy advantage or disadvantage?

Answer 1

Yes

Answer 2

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.