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household insurance

household and business insurance and reducing risk within the household

TermDefinition
utmost good faith utmost good faith means that when a person is taking out insurance they must be honest filling out the proposal form
insurable interest you have an insurable interest in something if you benefit from having the item and it would cost you money to replace it
indemnity this rule says that you should not make a profit out of insurance.you should end up in the same financial position.
travel insurance this insurance is important for people who travel either on business or on holidays.you will receive payment from the insurance company if you have an accident while you are on holidays
subrogation
Created by: sean-mcc
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