Generally, which of these ultimately pays the insurance premium on a commercial property owners policy?
A: The owner
B: The tenant
C: The managing agent
D: The owner and the managing agent
B. Market practice is for commercial property owners to charge the insurance premium out to their tenants, compared with residential property leases where usually the property owner will stand the cost of the insurance premium.
A: The insured B: The insurer C: The broker (acting on behalf of their client) D: The loss adjuster
When a caravan is being towed and is involved in a fault motor accident, resulting in damage to third-party property, does the liability section of the caravan policy cover the damage to the third-party property?
A: No, only third-party injuries are covered B: Yes, all third-party liabilities are covered C: No, any third-party liability while being towed is excluded D: Yes, providing the caravan had not become detached when the damage occurred
A: At review premiums can rise, fall or stay the same.