General Conditions of Insurance – a very important document

Posted: September 10th, 2013 | Author: | Occasional

By signing any insurance should have to deal with the document, which is called the General Conditions of Insurance. It turns out that they are not so general and that it is better to steer clear of them, and the document itself is very important.

Ed Yourdon / photo on flickr

Ed Yourdon / photo on flickr

His name would indicate that it contains some general provisions. In fact, we have two virtually identical policies, differing only in terms and conditions. The differences between them may not be comparable, and the product may be changed beyond recognition. What, then, includes the T & Cs? These things such as a list of exemptions, which states in which supply will not be paid. Point very important and often overlooked, and it may be that by some section our policy is nothing important. For example, in the case of insurance against theft, can we refuse to pay benefits if you do not have a home burglar alarm. Not knowing this point we do not have an alarm, to pay the premiums a few years, and finally a victim of theft and did not get.

Another important thing about the T & Cs definitions. Such, for example, household belongings, which can insure limited only to furniture and consumer electronics / appliances, and be expanded to jewelry and collectibles. Similarly, you can define in a variety of ways other terms. For example, hurricanes in different T & Cs may differ wind speed, etc. We always advise you to read the documents from cover to cover, but in the case of T & Cs can confidently recommend a thorough reading of the magnifying glass. Twice. And if you need it, even more.

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