In some countries certain types of insurance are mandatory; in others, most insurance are almost unknown. In addition, the cost of insurance and the type of coverage provided vary greatly from country to country. But the fundamental principle of insurance – dividing the risks – is the same.
Commercial property insurance
One of the most common forms of risk management is to take out insurance against loss of commercial property – home, trade, car or other property.
Some real estate insurances include coverage for certain objects inside the home. If you take out such insurance, it would be good to prepare an inventory of your insured assets, if possible including photos or a video tape. This inventory, in addition to valuations or purchase receipts, should be kept in a safe place outside the home. With these records in hand, it is much easier to file for damages.
The commercial property insurance is based on the principle of paying now for financial protection in the future, so it’s not surprising that many crooks work in this area. This happens in both developed and developing countries. Therefore, it is good to keep an eye on low cost insurance and other questionable insurance schemes. Many confident insurers ended up getting nothing when these companies failed to pay the policies or simply “evaporated” overnight.
So, just as you do while considering other weight purchases so you do not lose money, it is always good to compare the services of different companies. For example, in some insurers, nonsmokers have lower health insurance rates and drivers who have taken traffic safety courses pay less for vehicle insurance.
The first step is to find out what friends and neighbors know about insurance companies and brokers. Sometimes they give good tips about an insurance company that has the reputation of providing good services.