The insurance contract is one for which the insurer (the insurer) undertakes, by charging a premium and if the event occurs whose risk is hedged, to compensate, within the limits agreed the damage to the insured or meet capital, income or other benefits agreed.
This is the definition of an insurance contract makes the law *.
Why do we make?
We ensure the possibility that, by chance, an event or contingency arises that generates a need for repair on our goods, and especially those of third parties with whom we interact every day (neighbors, pedestrians, drivers, etc. ).
When the contingency risk is very high (for example, driving a vehicle), the Act requires be insured (compulsory motor insurance).
What can you ensure?
They can ensure all tangible assets (cars, homes, businesses, etc.) and intangible (financial damage, cessation of activity, etc.); also you can ensure the life and heritage.
For property to be insured must meet the following requirements:
It must be a tangible or intangible thing,
-The thing must exist at the time of the contract, or at least while they start to take risks,
-The thing must be economically quantifiable,
-The thing must be the subject of a legal stipulation,
-The thing must be exposed to lose the risk to the insured.
What you can not insure?
You can not ensure:
-The speculative risks (for the basic principle that "the compensation does not constitute profit"),
-Objects of illicit trade,
-things where there is an insurable interest.
Object of the insurance contract
Through the insurance contract the insurer moves the risk that threatens the insured in exchange for a certain price (premium).
We must clarify that insurance does not preclude the existence of risk or expected losses occur, but it prevents the insured contingency uncertainty.
Property insurance contract
The insurance contract is:
-Aleatorio, since the parties ignore at the time of its conclusion (when signing), if the loss or not the term covered by the policy will occur.
-Oneroso, since the performance of the insurer as embodied in its obligation to pay an amount if the loss occurs, it corresponds to the / insured concerning the payment of the premium contractor.
-of fixed duration.
It's a consensual contract which derives the insurer's obligation to deliver a document evidencing the policyholder, the policy.
It's a membership contract and the insurer predisposes the general conditions, leaving no room for negotiation.
* Insurance is regulated by Law 50/1980, of 8 October, Insurance Contract Act (BOE 250/1980 of 17 October 1980).
We recommend reading the entry The insurance contract, you have to know (II) , to continue.
This is the definition of an insurance contract makes the law *.
Why do we make?
We ensure the possibility that, by chance, an event or contingency arises that generates a need for repair on our goods, and especially those of third parties with whom we interact every day (neighbors, pedestrians, drivers, etc. ).
When the contingency risk is very high (for example, driving a vehicle), the Act requires be insured (compulsory motor insurance).
What can you ensure?
They can ensure all tangible assets (cars, homes, businesses, etc.) and intangible (financial damage, cessation of activity, etc.); also you can ensure the life and heritage.
For property to be insured must meet the following requirements:
It must be a tangible or intangible thing,
-The thing must exist at the time of the contract, or at least while they start to take risks,
-The thing must be economically quantifiable,
-The thing must be the subject of a legal stipulation,
-The thing must be exposed to lose the risk to the insured.
What you can not insure?
You can not ensure:
-The speculative risks (for the basic principle that "the compensation does not constitute profit"),
-Objects of illicit trade,
-things where there is an insurable interest.
Object of the insurance contract
Through the insurance contract the insurer moves the risk that threatens the insured in exchange for a certain price (premium).
We must clarify that insurance does not preclude the existence of risk or expected losses occur, but it prevents the insured contingency uncertainty.
Property insurance contract
The insurance contract is:
-Aleatorio, since the parties ignore at the time of its conclusion (when signing), if the loss or not the term covered by the policy will occur.
-Oneroso, since the performance of the insurer as embodied in its obligation to pay an amount if the loss occurs, it corresponds to the / insured concerning the payment of the premium contractor.
-of fixed duration.
It's a consensual contract which derives the insurer's obligation to deliver a document evidencing the policyholder, the policy.
It's a membership contract and the insurer predisposes the general conditions, leaving no room for negotiation.
* Insurance is regulated by Law 50/1980, of 8 October, Insurance Contract Act (BOE 250/1980 of 17 October 1980).
We recommend reading the entry The insurance contract, you have to know (II) , to continue.