What to look for in the insurance contract?
At the conclusion of the contract special attention should be paid to the fact:
— How are treated insurance risks, whether they are clear to you;
— Which fact that (event) is recognized under a contract as insurance claims;
— In which case the insurer does not recognize the event as insurance;
— Whcih limits provided under the contract and in which case the insurer can refuse to pay the insurance indemnity;
— Are you satisfied with the size of the franchise agreement (franchise – part of the loss that is not indemnified by the insurer under the insurance contract).
— Which rights have parties and which responsibilities that are assigned to them under the agreement;
— Do you know which method of determination of damages and payment of insurance compensation insurer applies;
— In which case the contract terminates.
From any question relating to the contract, the insurer must provide you with comprehensive explanations.