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.”