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This page is usually the first part of an insurance policy. It identifies insured persons, risks or assets covered, insurance limits and the insurance period (i.e. the date the policy is in effect). The insurance policy or contract is a contract by which the insurer promises to pay benefits to the insured or, on his behalf, to a third party if certain events occur. Subject to the „Fortuity“ principle, the event must be uncertain. The uncertainty may be either when the event will occur (for example. B in life insurance, the date of the insured`s death is uncertain) or whether it will occur (for example. B in fire insurance, whether or not there is a fire). [4] In addition, your application may be cancelled because you did not take into account certain information requested by your insurance company. In this case, a lack of knowledge and neglect can cost you dearly. Check your insurer`s insurance functions instead of signing them without immersing yourself in the fine print.

If you understand what you`re reading, you can make sure that the insurance product you sign up for covers you when you need it most. This is a summary of the insurance company`s key promises, and indicates what is covered. In the insurance agreement, the insurer undertakes to do certain things, such as paying losses for guaranteed risks, providing certain services or defending the insured in liability action. There are two basic forms of insurance: in Hanlon v. ING3, the British Columbia Court of Appeal interpreted a landlord and tenant policy in which damage to a home in Salmon Arm was caused by a marijuana grow operation. The damage included wet, soaked and burned carpets, the removal of bathroom faucets, replaced by blocks of exterior pipes, holes that were drilled into the walls of the bathroom so that they could pass pipes, lifting and soiled wallpaper, lifting square tiles, mold and what the unfortunate owner of the land described as a „strange smell“. Almost all of us have insurance. When your insurer gives you the insurance document, you usually look at the words in the policy and stack them with the other pile of financial papers on your desk, right? If you spend thousands of dollars on insurance every year, don`t you think you should know everything about it? Your insurance advisor is always there to help you understand the tricky terms in insurance forms, but you also need to know for yourself what your policy says. In this article, we allow you to easily read your insurance policy so that you understand their basic principles and how they are used in everyday life.

The insurance contract says what it is for the insurer to cover as part of the contract. It relates to the purpose of the insurance. In the standard fire policy, the declaration and insurance are displayed together on the first page of the contract. In policies that have more than one item, such as auto insurance. B, there is an insurance agreement for each item. It is the insurance contract that is part of a car insurance formed by an insurance contract for damage caused to cars. Car insurance generally has two themes: „liability coverage“ and „car damage coverage.“ The insurance policy is generally an integrated contract, that is, it covers all forms related to the agreement between the insured and the insurer. [2]10 However, in some cases, additional writings, such as letters sent after the final agreement, may make the insurance policy an un integrated contract. [2]:11 An insurance manual states that, as a general rule, „the courts take into account all previous negotiations or agreements … any contractual clause in the policy at the time of delivery, as well as those who then wrote as political riders and notes …