Premises Explained (With Examples) | Insurance Definitions скачать в хорошем качестве

Premises Explained (With Examples) | Insurance Definitions

Learn the definition of premises in insurance and why it’s such an important concept. LEARN MORE ► View the complete article: https://www.squareone.ca/resource-cen... RELATED VIDEOS ► Occupancy in insurance:    • Occupancy Explained (With Examples) | Insu...   ► Busting 12 car insurance myths:    • Busting 12 Common Car Insurance Myths   ► Indemnity explained (with examples):    • Indemnity Explained (With Examples) | Insu...   SUBSCRIBE FOR MORE INSURANCE VIDEOS ► Subscribe to Square One's channel and receive notifications for the latest videos about vehicles, interior design, homes, and insurance: http://bit.ly/SubscribeSQ1 ---------------------------------------------------- ABOUT SQUARE ONE Square One is an insurance agency that offers online home and car insurance. By eliminating all unnecessary complexities built into traditional policies, and offering customers a way to get a quote and buy online, Square One makes it easy and convenient for people to personalize their insurance to meet their exact needs. Square One offers home insurance in BC, Alberta, Saskatchewan, Manitoba, Ontario, and Quebec. Car insurance is offered in Ontario and Quebec. GET AN ONLINE INSURANCE QUOTE Get a free home insurance quote from $15/month or a car insurance quote from $120/month (Ontario) or $67/month (Quebec) and buy online in less than 5 minutes ► https://www.squareone.ca CONNECT WITH US ON SOCIAL Facebook ► http://bit.ly/FacebookSQ1 Twitter ► http://bit.ly/TwitterSQ1 Instagram ► https://bit.ly/InstagramSQ1 ---------------------------------------------------- A premises is a piece of land, and everything built on it. More specifically, it’s a piece of land with an official recognition and defined boundaries. Anything fixed to the ground or to another permanent structure is part of the premises. So, a house and a detached garage and a gazebo would all be part of the premises. Property without land can also be called a premises as well, like a condo unit. Every home insurance policy will offer some description of the insured premises, because that’s what the policy is insuring. For example, it might be the property located at an address for a homeowner’s policy, or a specific apartment unit for a tenant insurance policy. Premises are important in insurance for a couple of reasons. For one property may be insured differently depending on whether it’s on or off the premises. Structures must be on the premises to qualify; you can’t build a shed at your favourite camping spot and insure it under your detached structures coverage. But, your moveable belongings are usually still covered while temporarily off premises. The premises is also important for premises liability, which is part of most home insurance policies. This covers the resident’s liability arising from their occupation of the home. Imagine someone slips and falls on your icy front step. As the occupant, you’re responsible for making your home reasonably safe; someone injured in such a way could sue so, and your premises liability would respond. 00:00 Intro 00:11 Definition 01:43 Premises and home insurance #HomeInsurance #InsuranceTips #InsuranceDefinitions