Overview of Basic Property Coverages

COVERAGE FOR PROPERTY

This clause compensates the insured for losses or damages to the insured's property. There are three central portions to it. Buildings (a), Contents (b), and All Risks (c)

Section A: Structures

This section deals with the residence or residential home, as well as its accessories and fittings. Windows, permanently attached closets, electrical wiring, and other fixtures and fittings are examples of fixtures and fittings.

Other structures such as garages, storage structures, boundary walls, fences and gates, and other similar structures can be included in the home. These are also covered by the Buildings section of the homeowner's policy.

This section provides indemnification to the insured for losses or damages caused by designated dangers. These include:

a) fire,

b) lightning,

c) an earthquake.

d) Explosions: These will be covered if they occur due to boilers or gas stored in the building and utilized for residential purposes such as cooking. There are no limitations on the type of boiler or gas used, only on how they are used.

e) Landslip and subsidence of the land on which the house is built.

f) A strong wind

g) Collision damage

h) This risk covers damage to the residence caused by automobiles and animals colliding with it.

i) Harmful effects

j) Riots, Strikes, and Civil Disorder

k) Flooding, inundation, storms, typhoons, cyclones, hurricanes, tornadoes, and other natural disasters