On some occasion, you have been able to question whether it is possible to have the same risk doubly insured, that is, if you can have two insurance policies with different insurance companies for your car or your home. The answer is that it is possible, although it is not necessary. You have to take into…
Underinsurance is the situation that arises when the insured attributes to the object that the policy insures a value lower than that which the object actually has. In this way, the insured capital is less than the value of the insured interest. An example of this situation would be the insurance of a…
When contracting an insurance policy, several doubts may arise about the duration, renewal or cancellation of the contract. These and other doubts are common when hiring insurance. The Insurance Contract Law, in its article 22, resolves and clarifies most of these…
In situations of storms or adverse meteorological phenomena we may find that our insurer does not cover the damage that our insured property (home, business, office...) may suffer as a result of these phenomena. This happens because there are generally certain thresholds that companies take as a reference to determine coverage…
It is likely that you have ever heard of the risk in the insurance contract, or even that you have contracted a policy and do not know what this concept means. Risk is another basic concept of insurance contracts and is defined as the possibility of an event occurring…
Another of the basic concepts that we find in an insurance policy is that of the beneficiary. To speak of a beneficiary in an insurance contract is to speak of the person who will receive compensation from the insurance company in the event of an accident, provided that…
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Until now, the usual trend was that banks required to take out home insurance when applying for a mortgage. The banks conditioned the granting of the mortgage to the contracting of the insurance, or as a condition to reduce the differential that they apply to the Euribor. It has almost become...
Among the personal elements of the insurance contract is the figure of the insured. The insured is the person who owns the interest that is insured in the policy and who is therefore exposed to risk since he will suffer the consequences of years in the event of an eventual loss. The interest can be personal (case of insurance…
In order to understand an insurance policy it is necessary to identify the personal elements of the insurance contract. There are four personal elements: insurer, policyholder, insured and beneficiary. In this post we will explain what is meant by policyholder in an insurance policy. When we talk about the policy holder…