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Requirements for purchasing property insurance policy

i want to know What are the requirements to purchase a property insurance policy?

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Team Legistify
Team Legistify

Team Legistify

  • Answered on 02:22 PM, 28 Sep 18

The proposer of the policy should first and foremost have an interest in the assets being proposed for insurance, i.e. he/she should stand to lose financially in the event of loss or damage to such assets. Secondly, the proposer should submit a proposal form (which can be obtained at any insurer’s website or office). The proposal form should disclose all details, which are true to the insured’s best knowledge and other information, which the proposer may feel is relevant.

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