29th June 2010
Single Event Insurance Is Only Valid For A Short Period Of Time
Single event insurance is basically designed to offer protection against damage to property or goods.
Single event insurance is basically designed to offer protection
against damage to property or goods. If you are unable to trade for few
months due to an accident or a mishap, then your insurance might pay
your bills, wages and other expenses, depending on the type of cover
that you have taken out. If you are not fully insured, then the
insurer's liability will be limited to that proportion where the amount
of cover is compared to the value at risk. This ratio will then be
applied to your loss. In other words, if the policy that you have got is
only the half of what you should have bought, your insurers will then
only pay you half your assessed loss.
• Most single event insurance covers are not always included as part of
motor cover, but they do sometimes apply to vehicle contents. It will
replace possessions that are lost or damaged, but it won’t offer cover
against more minor hazards. An amount paid by the policyholder towards a
claim is often said to be the policyholder’s contribution or insured’s
• Some covers would give your business protection against those losses
that occur following another insured loss, like, a fire. If for some
reason your business suffered a major fire and you couldn't run your
business for six or more months whilst the damage is repaired, then
these policies could pay for your lost earnings or additional costs
whilst you cannot trade. The costs including solicitors and other legal
fees and defending an action brought against the insured by the tax
authorities in regards to VAT returns etc may also be covered by some
insurance policies. This cover is also suitable for any legal costs in
bringing an action against a third party relating to a contract that has
not been fully met, like if a supplier did not supply goods to the
insured according to his or her expectations and is not willing to
rectify the situation.
• Your single event insurance will also offer cover for damage to
buildings including fixed glass, landlords' fixtures and fittings, small
outside buildings, annexes, extensions, and a whole lot more. You may
also extend your cover to include theft if it does not involve forcible
or violent entry or exit.
• Some policies normally have a limit stating the maximum amount that
the insurers will pay. You must ask for an expert advice to ensure that
the liability or indemnity is high enough for your requirements. You can
get an instant online events insurance quote without having to give all
your personal details, and if you like the price and cover, you can
purchase within minutes.
• The date upon which cover under an insurance policy becomes effective
will not be until an insurer has accepted the cover or a cover change
and confirmed in writing or over the telephone.
Single event insurance policies are ideal for the costs incurred in
pursuing or defending the legal rights of the business for certain