Property Insurance

Property Insurance

Image credit kevinandamanda.com

Image credit kevinandamanda.com

ZIMSEC O Level Commerce Notes: Insurance: Property Insurance

Property insurance

Household insurance

  • Is taken by individuals.
  • It covers household movable items such as furniture, Tvs and jewellery.
  • Covers against losses due to theft and fire.
  • Compensation is based on the value of items at the time the risk occurs i.e. after wear and tear and depreciation has been deducted.

Building insurance

  • Is taken by the owner of buildings i.e. shops and houses.
  • It covers against damage to buildings.
  • Compensation is based on the value of the buildings at the time when the risk occurs.

To access more topics go to the Commerce Notes page.

By |2017-01-17T11:19:45+00:00July 18th, 2015|Notes, O Level Commerce Notes, Ordinary Level Notes|Comments Off on Property Insurance

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He holds an Honours in Accountancy degree from the University of Zimbabwe. He is passionate about technology and its practical application in today's world.
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