Property insurance is one type of general insurance that is often purchased by small business owners. Apart from property insurance, they also buy workers' liabilities and compensation if they hire other people.
What is Property Insurance?
Property insurance is a type of insurance that covers the structure of the building or the structure and contents of the company. Depending on your business needs, property insurance can also include outside signs, crime protection, other people's property, glass protection, and more.Why do I have to get Property Insurance?
In cases such as fire or theft, the insurance company will cover the costs of repairs and compensation through your property insurance. Therefore, with your property insurance "protect" yourself from damage or loss. Property insurance is carried out through a contract called the Property Insurance Policy.What is a Property Insurance policy?
Property insurance policies are legally binding contracts between insurance companies and people who buy policies. This person is often called a property insurance policy holder. When obtaining a property insurance policy, the policy holder will pay a certain amount of money, called "premium" to the insurance company. In return, the property insurance company will agree to pay certain types of damage or loss. Specific damage or loss to be borne by property insurance is described in the contract.When losses that meet the specifications stated in the property insurance contract occur, these losses are said to be "borne" by the property insurance policy.
Can homeowners get Property Insurance?
Anyone can get property insurance as long as he has an "insurable interest." Small businesses, large businesses, middle income to high income homeowners - these people can get property insurance.In property insurance, the interest that can be insured is the property itself. So for small businesses, their property insurance covers their office buildings and everything that is considered an "insured interest." For homeowners, their "insured interests" such as their homes can be protected by property insurance.
Property insurance for homeowners pays for repairs or rebuilding a house damaged by fire or various other causes such as wind damage, freezing and damage. This type of property insurance policy also pays for replacement of items or valuables in your home if damaged or stolen.
Private Property Insurance
Everyone keeps valuable personal articles and items. Examples of personal property are jewelry, notes, books, important documents, and other items. Although little or seemingly unnecessary, these items are valuable and also require personal property insurance protection.Students in particular are the ones most vulnerable to loss of personal property. Every year, students lose millions of dollars worth of property. They lost calculators, stereos, cameras, personal computers, books, furniture, clothing, and other personal items due to fire, theft, water or destruction. Because most students live in dormitories or share rooms with other students, the risk of losing or damaging personal property is greater. Having personal property insurance can protect students from the costs of replacing lost or damaged items.
There are several insurance companies that provide private property insurance policies. Below is a short list of these private property insurance companies. Also included is a brief outline of the insurance policies of the personal property of these companies and their main features.
National Student Services Incorporated (NSSI)
NSSI offers private property insurance policies for students. For greater affordability, NSSI sells their personal property insurance policies to students with a few cents a day. Their personal property insurance policies are recognized in more than 1000 colleges and are used in several universities in the United States.NSSI's personal property insurance program protects students' belongings whether they live on campus or not. Also included in their property insurance policy is a $1,000 automatic liability coverage. Additional benefits from NSSI's personal property insurance are paid for any loss or damage that is the responsibility of the insured. For example, accidents occur because of insured negligence, NSSI's personal property insurance will cover up to $1,000 of the cost of hospitalization.
Additional Campus Services
Offered by Auxiliary Services Corporation at SUNY Cortland, students 'personal property insurance from Ancillary Campus Services offers primary protection to protect students' private property. This student personal property insurance is managed by Haylor, Freyer, & Coon, Inc. and is designed to protect students from loss or damage to personal property when living in halls, brotherhood homes or dormitories, off-campus apartments or homes.This private property insurance policy has a deduction starting at $50 so students can buy it. Also, private property insurance policies Ancillary Campus Services even include students who go abroad.
Clements International
Clements International is one of the few insurance companies offering private property insurance abroad. Their international personal property insurance covers the cost of items damaged during the relocation process or when you are in your foreign residence.Clements International's international private property insurance is separated into two packages. The first private property insurance package covers transit and destination costs. The second private property insurance package is solely for coverage purposes for professionals who have lived abroad. https://bit.ly/2PU9Fry