Property Insurance
Protects buildings, machinery, and contents against various risks such as fire, theft, and natural disasters.
- Buildings
- Covers structural damage to buildings.
- Contents
- Covers damage or loss of personal property and contents.
- Business Interruption
- Covers loss of income due to property damage.
- Additional Perils
- Optional coverage for risks like theft, vandalism, and natural disasters.
Information/Documents needed for Property Insurance
- Insured's Name:
- Property Location:
- Items to be Insured:
- Building Structure
- Contents (such as furniture and personal belongings)
- Machineries and Equipment
- Inventory/Stock
- High-Value Items or Artwork
Property Valuation:
- Replacement Cost: The current cost to rebuild or replace the property with a similar one.
- Depreciated Value: The replacement cost minus any depreciation to reflect the current value.
- Market Value: The estimated selling price of a similar property in the current market.
- Mortgage Information: Details of any mortgages or liens on the property, if applicable.
Loss History: A record of any previous losses or claims related to the property.
