Businesses
In return of this promise, the insured is required to pay a premium to the insurance provider. Home insurance, also commonly called hazard insurance or homeowners insurance , provides coverage for damage or destruction of the policyholder's home. In some geographical areas, the policy may exclude certain types of risks, such as flood or earthquake, that require additional coverage. Maintenance-related issues are typically the homeowner's responsibility. The policy may include inventory, or this can be bought as a separate policy, especially for people who rent housing. In some countries, insurers offer a package which may include liability and legal responsibility for injuries and property damage caused by members of the household, including pets. Build Your Plan The insured value or sum insured depends on the market value of the vehicle. The maximum compensation you will receive is the market value of the vehicle. Demutualization of mutual insurers to form stock companies,