Insurance With the rising cost of insurance, sometimes it seems like we can’t live with it, but now-a-days we can’t live without it!
Insured Items <ul><li>There are limitless things that you can insure, in order to keep them protected, but the most important ones are: </li></ul>YOU YOUR FAMILY YOUR HOUSE YOUR AWESOME CAR YOUR BOAT 1 2 3 4 5 Property Insurance (#3-5): -Insurance intended to compensate for harm to the insured person’s real property. Fire insurance is insurance that covers the loss of property resulting from fire, or lightning strike.
Insurance <ul><li>Insurance is a contractual arrangement that protects against loss. </li></ul>
Policy <ul><li>The policy contract of insurance is known as the policy. Certain exclusions, or exceptions to property and casualty insurance are stated in the policy. Meaning that there are certain exceptions to coverage, that relieves the insurance company from paying. </li></ul>
Indemnify <ul><li>Compensation for harm done to one party. </li></ul><ul><li>The individual who accepts the compensation is known as the insured , and the person who agrees to indemnify is the insurer . </li></ul>
Beneficiary <ul><li>This individual is the recipient of the amount to be paid. The maximum amount of compensation that can be received is known as the face value . </li></ul>
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