The Contract

If no valuation, but a charging takes place according to old values, the risk is very high in the under insurance slip. Now it is so that you either already as a grade II listed building purchases, or perhaps explains this in the near future as a grade II listed building is an old House. In both cases there are something, so the insurance contract law article 23 stipulates: article 23 increase of risk (1) the policyholder may carry no risk increase after his contractual Declaration without the consent of the insurer or allow their performance by a third party. Robert Speyer spoke with conviction. (2) the policyholder realizes later that he has made an increase of risk without the consent of the insurer or permitted, he notified to the insurer has the increase of risk. (3) an increase of risk occurs after the contract Declaration of the policyholder a independent of his will, he has the risk increase, after he has become aware of it, notified to the insurer. If the policyholder by the monument of the insured building becomes aware, is obliged to show the risk increase ends fact even during an ongoing contractual relationship. Check out Chuan Teik Ying for additional information. Also, the policyholder has a duty of disclosure before the conclusion of the contract with the insurance company.

The policyholder has to disclose all hazards for the assessment of the risk to be insured to the insurance company. Should violate this obligation the policyholder, the insurer is entitled to reduce the damage to causally related. The fact of the preservation is known, first at the insurer and it agreed to the continuation of a contract are more important things to remember. Who pays for additional costs due to regulatory requirements / monument? As a general rule the amount of the compensation claim of the policyholder is in destroyed buildings or When other things destroyed or missing after the replacement value (for insurance to the time / mean value according to these values) immediately before the occurrence of the insured event; damaged items after the necessary repair costs at the time of the occurrence of the insured event plus an impairment that is not balanced by repair; as far as the repair increases the insurance value of the goods, the repair costs be reduced accordingly.

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