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Types of Insurable Losses
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Types of Insurable Losses

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Questions and Answers

What is the recommended action in case of a claim due to the mentioned perils?

  • Delay informing the police and fire brigade to first protect the damaged property
  • Wait for the insurance surveyor before taking any action
  • Do not protect or minimize the loss as it is the responsibility of the insurance company
  • Inform the police and fire brigade immediately (correct)

    • What is the purpose of submitting a police report and photos when claiming due to perils?

  • To delay the claim process
  • To provide proof of damage or loss (correct)
  • To avoid informing the insurance company
  • To expedite the investigation process

    • What does the policy excess of Dhs.2,500/- for Each and Every Loss imply?

  • The policyholder is responsible for all losses regardless of the amount
  • The insurance company will cover all losses exceeding that amount
  • The policyholder will not bear any costs for losses below that amount
  • The policyholder needs to pay the first Dhs.2,500/- of each loss (correct)

    • What should be done to damaged property till the Insurance surveyor arrives?

    <p>Protect it and minimize the loss</p> Signup and view all the answers

    In case of a loss due to storm, water, or hail, where does it specify the damage should occur?

    <p>Specifically in open-sided buildings</p> Signup and view all the answers

    What types of losses are covered under 'the freezing or solidification of molten material'?

    <p>Losses due to freezing or solidifying molten material</p> Signup and view all the answers

    What is NOT included in the list of costs covered by insurance according to the text?

    <p>Expenses incurred due to employee negligence</p> Signup and view all the answers

    'Our Price (premium)' depends on which factors according to the text?

    <p>'Our Price (premium)' depends upon building location/occupancy and value</p> Signup and view all the answers

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