PRINCIPLES OF INSURANCE
These are the general principles of insurance which the policy conditions try to enforce
🍍 The event must be sudden and unforeseen
🍍 The event must NOT be gradual or reasonably foreseeable & preventable
🍍 You must be the Owner of your stuff (i.e have an interest in its well-being)
🍍 Event must NOT fall within the responsibility of a 3rd party or intangible asset(EG: Warranties, Software issues & Manufacturer faults are not covered by insurance)
🍍 Being part of our community, everyone should act in good faith and be honest
Gadgets, electronics, jewelry, sports equipment, etc.
That beautiful thing on 4 wheels which takes you from A to B
Furniture, Home Appliances, carpets, curtains, tools etc.