Concluding insurance agreement should be aimed, in the first place, at receiving indemnity in case of unforeseen circumstances. Imagine the Client’s distress if the insurance company denies indemnity or pays for the damage only partly.
There is an easy way to pay less for CASCO insurance – that is to set high deductible amount. However, there is another side to the story. In case of insured event the Insured is bound to bear more expenses to cover it from his own pocket. This article is aimed at explaining the essence of deductible amount, its influence of the insurance rate and claim settlement process.
Lately there have been some developments in the sphere of issuing loans to businesses secured by pledged property assets. Though the process is not as speedy as some of companies would have wished, that is still a positive trend for the economic revival. Typically enough the majority of lenders view the compulsory insurance required under the mortgage agreements as the unintended expenses. Therefore only the slight share of attention is paid to considering and negotiating the most favorable insurance terms and conditions instead of using the insurance policies as the tool to minimize the entrepreneurial risks.
Who and under what circumstances is entitled to them? Constant currency exchange rate fluctuations keep adding to the growing uncertainty in what tomorrow brings. Since the insurance in its essence is aimed at bringing confidence, the issue of concluding insurance agreement denominated in foreign currency has been coming up pretty frequently lately. The main purpose of such policies is to guarantee that the indemnity, just like the insurance premium, will be paid in the foreign currency as well. This article is called to review the provisions under which entities operating in Ukraine can count on using the benefits of foreign-currency denominated insurance agreements.
When making a decision to purchase CASCO insurance policy it’s worth remembering that it serves as the means of protecting your vehicle from almost all kinds of unforeseen circumstances. Sometimes even those which an Insured can’t imagine. It’s not reasonable to evaluate whether or not CASCO insurance is worth paying for based on the relation between the insurance premium paid and indemnity received during the term of the agreement. Insurance allows predicting your expenses, including unexpected ones, in the first place. That’s the core purpose of such kind of insurance.
There are a few insurance products in the Ukrainian market which are tailored to the needs of agricultural companies. Rational use of them all can provide the safety bag intended to offset the repercussions of unforeseen circumstances since the losses are to be covered by an insurance company.
Successful claim settlement depends mainly on your careful consideration of insurance coverage options available in the market. The choice should be defined primarily by your business needs.
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