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Engineering Insurance Terminologies
Sum Insured
The sum insured is the amount paid to the policy holder in the instance of an unforeseen event by the insurer
All Risks Coverage
All Risks Coverage/Comprehensive Coverage in engineering insurance covers the loss arising from any unexpected events, except those that are specifically excluded in the policy document
Frequently Asked Questions
What is a deductible?
A deductible is the amount of the claim that is to be borne by the insured. This deductible amount will be paid by the insured when a claim arises and the insurance company will cover the remaining balance
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