Page 389 - Fire Insurance Ebook IC 57

The Insurance Times

(ii) Local Authorities Clause.
(iii) Cost of Erection.
(iv) Architects/Surveyors fees' Clause.

In case of Stocks, coverage on declaration basis and
floater basis is available. Sometimes cover is granted
the basis of first loss also.

Combined Policies: These were developed to cater
to business risks where more than one type of insurance
coverage are required, for e.g, fire, business interruption,
theft, money, glass, liability etc. They are basically an
umbrella policy comprising of several single policies.

The benefits to the insured are:
(i) One proposal to complete.
(ii) A single policy booklet or folder to retain.
(iii) One payable premium.
(iv) Common renewal date .
(v) Easier reference for day to day dealings with

insurers, especially in case of claims.
(vi) Reduced premium levels (at the option of insurers).

The benefits to the insurer are:

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