Slide outline in the Insuring Agreement

Aug 6th, 2022
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How to slide outline in the Insuring Agreement

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Hey, hows it going? Its Seth here from retipster.com. In this video, I want to talk to you a little bit about, something that comes up pretty commonly in a title search, or when youre getting a title insurance policy. And that is easements. So, an easement is when another person or entity wants to have access to a portion of your property so that they can go onto it or pass through it whenever they want. This can happen if somebody wants to put a path or a road through your property and its really common with local utility companies like a phone company or a power company where they put their power lines and poles on your property. And I had an interesting situation with this earlier this year on a property that I bought. And I thought it would be a good opportunity just to show you what an easement looks like, how to make sense of it. This was my title insurance commitment. And in every title, insurance commitment, theres something called Schedule B Part II where the title compan

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Conditions. Conditions are factors that determine if the insurer will pay the claim. The most important factor is that youre paying your premiums.
The insurance clause supports the promise made in the indemnification by providing the indemnifier the financial resources for losses that may result from a claim. Insurance requirements should be clear and fair, appropriate to the risks, and the limits adequate for the claims that may arise.
The insuring agreement is usually contained in a coverage form from which a policy is constructed. Often, insuring agreements outline a broad scope of coverage, which is then narrowed by exclusions and definitions.
Every insurance policy has five parts: declarations, insuring agreements, definitions, exclusions and conditions. Many policies contain a sixth part: endorsements. Use these sections as guideposts in reviewing the policies.
Insuring Agreement The portion of an insurance contract that describes what is covered. The insuring agreement usually states the perils insured against, the person(s) and/or property covered, the property locations, and the period of the contract.
The Premium Paying Term or PPT is the period for which you must pay the required premiums for your life insurance policy. In other words, it is the term for payment of premiums. Generally, in case of Term Insurance, the premium payment term is usually equal to the policy term.
The insuring agreement in a life insurance contract establishes the insurers basic promise. This promise is to pay out a specified amount to the beneficiaries upon the policyholders death, assuming the policyholder has kept up with premium payments and not violated any policy conditions.
There are four basic parts to an insurance contract: Declaration Page. Insuring Agreement. Exclusions. Conditions.

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