HOW CAN I STRUCTURE A GROUP INSURANCE POLICY FOR EMPLOYEES?
Property Insurance provides protection against most risks to property, such as fire, theft and some weather damage. This includes specialized forms of Insurance such as fire Insurance, flood Insurance, earthquake Insurance, home Insurance, or boiler Insurance. Property is insured in two main ways—open perils and named perils.
Open perils cover all the causes of loss not specifically excluded in the policy. Common exclusions on open peril policies include damage resulting from earthquakes, floods, nuclear incidents, acts of terrorism, and war.
Named perils require the actual cause of loss to be listed in the policy for Insurance to be provided. The more common named perils include such damage-causing events as fire, lightning, explosion, and theft.
Homeowners Insurance is made up of coverage that may help pay to repair or replace your home and belongings if they are damaged by certain perils, such as fire or theft.
It may also help cover costs if you accidentally damage another person’s property or if a visitor is injured at your home.
