Policy, the Polizza Italian (which, in turn, is derived from a Greek word meaning “demo” or “test”), is a justification or supporting document. The insurance policy, therefore, is the document that certifies said support being accessed when the insured pays a premium for it.
The insurance policy definition, which can also be referred to as insurance contract sets the terms by which the insured is obliged to compensate damage or to pay a sum to be checked under a contingency contract. The contracting insurance for its part, is obliged to pay a premium in exchange for coverage.
Logic dictates that the premium will allow the insured prevent further economic damage if the accident occurs. The insurance policy is made up of several elements, such as insurable interest, insurable risk premium and the insurer’s obligation to indemnify.
However, in addition to this there are a number of items that can not be missed under any circumstances in a policy of this type. For example, we are referring to the formal elements that have to appear in it. This is the case of the personal data of the client and the insurance company, the insurance fee and its duration or nature of the risks that are insured.
The insurable interest lawful stable relationship between a good and an economic value. They can ensure material things (like a house or a car) and intangible things (like economic loss or cessation of a productive activity), provided they can be assessable in money, in existence prior to the policy and are the subject of a lawful stipulation.
Besides the above we have to determine that insurance can be divided basically into three groups. First, there are the interests that are trying to protect those goods which means that there are insurance policies for theft or fire, for example.
Second are the insurance people are those who are engaged with the clear aim of being able to protect and ensure, in one way or another, health, safety and lives of those who hire them.
And third are other types of insurance policies that are referenced to travel assistance, orphans. Not forgetting that we must not overlook the existence of a number of compulsory insurance must subscribe them on vehicles, hazardous or sporting dogs, if practices that pose a significant risk.
However, we have to establish the types of insurance policies are frequently the home, life, health and the vehicle. The insurable risk is the future, possible and uncertain event that can generate a financial loss to the insured, while the premium is the cost of the policy. The insurer’s obligation to indemnify, finally, depends on the fulfillment of the insured risk.
Roughly and without examining each type of policy and coverage, these are the four types of policies that can be contracted. It is important to remember that each company sets its policies according to their criteria, so we will not always find the same coverage for each type of policy. Insurance is called differently and different coverages that will complement those that we have included in these categories are included, so deeply is essential to analyze the type of policy that are hiring.
In any case, to begin addressing hiring a car insurance is important to understand the distinction between safe Third Party, Third Expanded and All Risks with or without excess, as this will allow us to choose more easily insurance that best suits our needs.
The insurance policy definition, which can also be referred to as insurance contract sets the terms by which the insured is obliged to compensate damage or to pay a sum to be checked under a contingency contract. The contracting insurance for its part, is obliged to pay a premium in exchange for coverage.
Logic dictates that the premium will allow the insured prevent further economic damage if the accident occurs. The insurance policy is made up of several elements, such as insurable interest, insurable risk premium and the insurer’s obligation to indemnify.
However, in addition to this there are a number of items that can not be missed under any circumstances in a policy of this type. For example, we are referring to the formal elements that have to appear in it. This is the case of the personal data of the client and the insurance company, the insurance fee and its duration or nature of the risks that are insured.
The insurable interest lawful stable relationship between a good and an economic value. They can ensure material things (like a house or a car) and intangible things (like economic loss or cessation of a productive activity), provided they can be assessable in money, in existence prior to the policy and are the subject of a lawful stipulation.
Besides the above we have to determine that insurance can be divided basically into three groups. First, there are the interests that are trying to protect those goods which means that there are insurance policies for theft or fire, for example.
Second are the insurance people are those who are engaged with the clear aim of being able to protect and ensure, in one way or another, health, safety and lives of those who hire them.
And third are other types of insurance policies that are referenced to travel assistance, orphans. Not forgetting that we must not overlook the existence of a number of compulsory insurance must subscribe them on vehicles, hazardous or sporting dogs, if practices that pose a significant risk.
However, we have to establish the types of insurance policies are frequently the home, life, health and the vehicle. The insurable risk is the future, possible and uncertain event that can generate a financial loss to the insured, while the premium is the cost of the policy. The insurer’s obligation to indemnify, finally, depends on the fulfillment of the insured risk.
Roughly and without examining each type of policy and coverage, these are the four types of policies that can be contracted. It is important to remember that each company sets its policies according to their criteria, so we will not always find the same coverage for each type of policy. Insurance is called differently and different coverages that will complement those that we have included in these categories are included, so deeply is essential to analyze the type of policy that are hiring.
In any case, to begin addressing hiring a car insurance is important to understand the distinction between safe Third Party, Third Expanded and All Risks with or without excess, as this will allow us to choose more easily insurance that best suits our needs.
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