Insurance Issue of the Week

Insurance Issue of the week- 30

Excess applicable for dwelling units under SF & SP Ins Policy

Received many inquiries about the excess applicable for the dwellings units under SF & SP Ins policy and  the same is as under:

If the dwelling unit is in the name of individual owners “ No excess is applicable under any of perils defined in the policy”

If the dwelling units is the in the name of Company/ Society : “the excess is applicable based on the sum insured as defined for the manufacturing units.”   

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