Types of Coverages in Property Insurance

Property insurance is a kind of insurance that every property insurance should have. It is because that kind of insurance will be the one to cover every problem that happens to the property, such as leaks, fire, flood and so on. It is even more important for the owner of rented property as they have to be responsible for the damage to the property which is not caused by the tenant. The property insurance for a rented property, then, is called as the landlord insurance that you can know more on http://www.uklandlordinsurance.com/landlords-insurance-for-dss-tenants.html.

It is known that there are two types of coverages in property insurance. The first is a general coverage, such as the coverage that guarantees all causes of loss that are not particularly excluded in the policy. General exceptions to common coverage policies include damage caused by nuclear incidents, floods, earthquakes, war and acts of terrorism. The example of insurance coverage in this insurance is the ‘all risks’ property insurance.

Second is a special coverage, such as the coverage that requires a special cause of loss to be mentioned in the insurance policy to be given. Some of the coverages that can be included in this category include events that cause damage such as fire, lightning blast, and theft. An example of insurance is fire insurance.

There are several things that can be insured on property insurance, including Buildings, home furnishings, home furnishings, machinery, merchandise, inventory or finished goods, and so on. In addition to all causes of loss guaranteed in the fire insurance standard policy, where this policy becomes the policy standard for property insurance. You may extend protection for loss in your property insurance. For example, losses caused by riots, strikes, bad deeds, riots, floods, water damage, being hit by a vehicle, an earthquake, a tsunami, an explosion or a tear in the tank, theft, robbery, and so on. In addition, Business interruption policy is also provided which guarantees the protection of loss of profit or income due to business interruption caused by loss, destruction, or damage guaranteed by all risk property insurance policy.