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An extended coverage endorsement (EC) was a common extension of property insurance beyond coverage for fire and lightning. Extended coverage added insurance against loss by the perils of windstorm, hail, explosion, civil commotion, riot and riot attending a strike, aircraft damage, vehicle damage, and smoke damage. [1]
An 18th-century fire insurance contract. Property insurance can be traced to the Great Fire of London, which in 1666 devoured more than 13,000 houses.The devastating effects of the fire converted the development of insurance "from a matter of convenience into one of urgency, a change of opinion reflected in Sir Christopher Wren's inclusion of a site for 'the Insurance Office' in his new plan ...
Homeowners insurance covers fire damage, so if your house burns down or your personal property is damaged by a fire during the holidays, your homeowners policy can help pay for repairs.
Builder's risk covers perils such as fire, wind, theft, vandalism and many more. It typically does not cover perils such as earthquake, flood or hurricane damage unless the policy has been specifically endorsed to do so. [3] However, earthquake riders can be economical, depending on where a project is located.
Depending on the terms of the policy, fire insurance or a clause for fire damage coverage in your regular policy may pay out based on the actual value of the property after the fire, or it may pay ...
“The high wildfire risk in California has led to insurance companies withdrawing from underwriting policies in some parts of the state or limiting coverage for perils like wildfire, making it ...
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