Property insurance is one of the most important types of insurance that helps protect individuals’ property from risks expected to occur, whether fire, theft, etc. This is the most important information about it.
What is property insurance?
It is insurance in which the property is the subject of insurance, the most important of which are “fire risk insurance, insurance against maritime transport risks (drowning, fire, collision, damage), insurance against aviation risks (damage or loss of the aircraft), insurance against automobile risks (collision, Fire, damage, theft insurance
What are the types of property insurance?
Property insurance is divided into fire insurance, engineering insurance, car insurance, marine insurance, energy insurance, and aviation insurance.
What does property insurance include?
Insurance includes the specific property and is limited to fire or theft insurance only. The insurance company monitors the list of lost items and the cause of damage, but it does not include insurance against floods or against damage resulting from terrorism or war.
How is property insurance paid?
The maximum value of insurance coverage is determined based on the value of the insured dwelling and the value of its contents according to estimates, in addition to the benefit of liability towards third parties and servants and the value of additional expenses for finding alternative housing in the event of damage to the insured dwelling. Compensation is made on the basis of repair, replacement or cash compensation.
What is the importance of property insurance?
The importance of property insurance is due to protection from the risks expected to occur to the property and the valuable tools it contains
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