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Insurance Claim Question
I need a answer to this question. I hope I can get answer from here. Thanks in advance.
Please consider a fire policy with 15%coinsurance. The subject matters of insurance are building (150K), contents(200K), and machinery(150K). The perils covered are fire, flood, and theft. The duration of the policy is standardized beginning by 4th January 2020.
• The insured informs the insurance company that there is a claim allegedly due to a fire next door on 26th December. The estimated damages are 25K on the building, 35K in the contents, and 15K in the machinery. The limit in the policy is %5, the deductible is %2.
• The surveyor's report confirms the estimated damages and also informs that there is an excess sum insured for the machinery (only 100K).
Please put the questions and activities in order starting from the first call for the claim on 4th January. UNTIL THE INDEMNITY SETTLEMENT.
Please consider a fire policy with 15%coinsurance. The subject matters of insurance are building (150K), contents(200K), and machinery(150K). The perils covered are fire, flood, and theft. The duration of the policy is standardized beginning by 4th January 2020.
• The insured informs the insurance company that there is a claim allegedly due to a fire next door on 26th December. The estimated damages are 25K on the building, 35K in the contents, and 15K in the machinery. The limit in the policy is %5, the deductible is %2.
• The surveyor's report confirms the estimated damages and also informs that there is an excess sum insured for the machinery (only 100K).
Please put the questions and activities in order starting from the first call for the claim on 4th January. UNTIL THE INDEMNITY SETTLEMENT.
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