Insurance arrangements and guarantees

Insurance arrangements mean insurance policy owner’s duty to tell only truthful facts. Thus, during factory insurance from the fire or other dangers there can be pointed the following: “It is guaranteed, that on its territory there won’t be dangerously explosive materials.”

Guarantee presence in the insurance policy assumes, that insurance owner must strictly follow them. If the guarantees aren’t observed, policy owner will have privilege to remove all responibility according to insurance policy. For example, if insured plant suffered from the flood and insurance policy owner declared the loss acording to the policy terms, but it would be determined by the insurers that there was dynamite, they would able to take off any responsibility following from the insurance policy terms, though the damage from the flood has nothing common with the fact of dynamite keeping.

Insurance policy owner’s duties as to obsrevnce of the highest principle honesty. Policy holder always knows much more about the property or other insurance objects, than insurer. Something that policy holder knows, can be turned out very important for insurer when solving some questions, connected with insurance. Insurer will insure rather driver that has no violations of the driving rules, than the one , which has it many.

American laws put on the preson, that wishes to insure, the duty before making of auto insurance contract to tell insurer all necessary for decision-making facts, connected with possibility to make insurance on certain conditions. These facts are called the facts, that have material meaning. In connection with this almost in all kinds of auto insurance you need insurance application. It is prepared by the insurer and contains the list of the questions, which must be answered by potential auto insurance policy owner. HE must give truthful answers and sign insurance application.