The first thing you want to mention - is the importance of an adequate assessment of the property of the object that you want to insure. When a broker or insurance company will ask you any information, it is necessary to provide the most detailed and correct. After all, with loss of "float" all the inconsistencies with the data provided by you and all the little things that you "kept silent" - all of which can lead to denial of payment. For example, if you have a warehouse, consisting of several rooms, and only one of them installed sprinkler system, and indicate in the application for insurance, does not need to write that the sprinkler system in general, is the object of insurance. This applies to all: alarm, smoking areas and the actual condition of the insured property. Provide information which accurately displays the entire picture received by the insurance object. In this case, the broker or the insurance company will be able to find conditions suitable for your particular facility.
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The important point is the failure of MOE requirements, which can cause denial of payment. If you know about the disregard of the requirements mentioned, be sure to notify about this broker or insurance company. With many insurers may agree and prescribe in the contract of insurance: "The existence of outstanding orders MOE is grounds for refusal to pay only if they caused the insured event." Otherwise, the insurance company can refuse to pay, for example, due to the fact that you have in stock the height of the steps does not meet the requirements of the MOE, though it has nothing to do with a particular insurance case. If you take a rental property, be sure to check with the landlord on the availability requirements.
Nuances in the lease
Another situation: you have to rent a room, for example, under the future shop, and at the request of the landlord to insure a property. In this case you need to make cosmetic repairs of leased premises. By signing the insurance contract, it's important to understand that the loss due to repair work is an exception under the insurance contract. Therefore, the insurer must give notice of the planned works. You can specify the date by which the work will be completed, for example, two months later. Many insurance companies agree to add the phrase in the contract, "this exception does not apply to planned engineering works and refurbishment." But if you spend redevelopment leased premises, including the demolition of the walls - that, under a contract of property insurance will still be considered an exception. It is worth adding that some insurance companies for an additional fee you can make the extension to the building and construction risk for a certain amount, within which it will be possible at a loss to get a refund.
The mortgage and property nezalogovoe
Everyone knows that you can insure a mortgage, and not collateral. But somehow related to these very different types of insurance. For example, when a bank requires to insure the mortgaged property, then the insurance coverage no one pays attention, the main factor for the Ukrainian insurer in this case is a low cost. When fear is not collateral, priority is the quality of coverage. This is the wrong approach. As in the pledge and the pledge is not insurance in the first place should be the quality of coverage. After all the losses occur regardless of "collateral" or a "no bail". The amount that you originally saved on insurance premiums, will not your costs incurred because of poor coverage.
Be careful and as open as possible in providing information about the object of insurance - and eventually you'll have quality coverage that is the first and key step to getting paid.
Nick Miller, a specialist division of property insurance,