Category: Insurance tips Release Date: 2006-08-01
Property, liability and compensation insurance, the principles of
Property insurance is a kind of economic action of contract, the insurer of the insured person who place the subject of insurance, accident insurance, loss or liability arising shall be in accordance with the property liability insurance contract to fulfill.
Property insurance liability is reflected in four aspects: First, the subject of compensation for loss of responsibility. The second is the responsibility of compensation for a reasonable fee. In addition to the subject of losses, the insurer of the insured or the insurer in order to avoid or reduce the loss of insurance coverage carried out within the rescue, protect, organize, and litigation expenses reasonably necessary expenses, as well as subject to determine the loss of pay damage to the object of inspection, valuation and sale of the reasonable costs incurred liability. Third, the responsibility of the timely payment of reparations. Insurers, the insured or the insurer received the application and the claims of the relevant documents, they should pay compensation within 10 days. If you do not timely paid, it should bear the responsibility for breach of contract, since to determine the amount of compensation from the date 10 days after the central bank at that time to embark on the short-term lending rate to enterprises to pay liquidated damages. Fourth, losses for its first post-recovery responsibilities. The insured or the insurer's liability insurance, the subject took place within the scope of the insurance loss, if it is caused by a third party's responsibilities, it should be the responsible party to recover the rights of third-party transfers, in their cooperation with the joint assistance to the third by recovery.
Property insurance compensation should follow five basic principles.
First, the actual loss was limited to principles. When the insured person's property losses, the insurer should be compensated for actual loss, so that the insured person is economically just be able to return to the insurance accident occurred just before the state. The compensation is too small, can not fully compensate for the losses suffered; compensation for too much would cause unjust enrichment, breach of insurance intended. To determine the actual losses of property, Peking opera, the market price shall prevail, because the value of property by the market value of the property expressed as, according to the actual damages, loss of property must not exceed the prevailing market price (set the value of insurance and great value insurance exception).
Second, limit the amount of the insurance principle. The insurance amount is the maximum amount of compensation limits the amount of compensation can only be less than, equal to, not higher than the amount of insurance.
The third is the subject of insurance the insured person's insurable interests of the limited principle. The insured person claims for losses of property must have an insurable interest. Compensation insurer to the insured person on the property as at the time of Chuxian insurable interests of the limit.
Fourth, the insurer may choose the currency to pay or repair, replacement of the principle methods. If it reaches the insured losses in the property, after the insurance compensation can restore the loss of his place in the property before the state of the economy of purpose, the insurer may be damaged Chuxian according to different circumstances, were selected currency payments or repair or replacement of original approach to compensation. The insured person can not afford to give up a small loss insurance, subject, requiring an insurer for compensation by a total loss.
Fifth, the insured person can not receive additional compensation insurance, interest. Property Insurance compensation is financial compensation for losses, so that the insured person's insurance benefits are not affected, can not compensate for additional interest that would lead to moral hazard and increase fraud. To this end, shall have control, such as by a third-party liability insurance, the accident caused the insured person from the insurance office to obtain full compensation after the recovery of the right must be transferred to insurers, can no longer be received from a third party for additional compensation; insured one or more of the same property, many insurance policies, after Chuxian not receive more than the total value of its insurance assets amount of compensation; insurance and property losses after the remnants of, should be deducted from the indemnity; insurance, the insured person found little more than damage lose, or fraud, or fraud, it refused to compensate the foster multi-lose part can be recovered, if necessary legal action.
