by admin
in Insurance Terms
INSURANCE FEE (SUM INSURED)
In case a danger within the scope of coverage occurs or the insured becomes liable to third parties, the insurer is obliged to pay, It is the maximum amount stated in the policy and which constitutes the basis for compensation.. Insurance cost in compensation contracts, It is the biggest financial loss that the insured can suffer.. Market value of the insured subject at the time of damage, If below the insurance amount, based on market value. In non-indemnity based insurance contracts […]