Question

Under the dwelling policy, if an insurer chooses to repair or replace damaged or lost property, it must inform the insured within how many days of receiving proof of loss?

Answer 1

The insurer has 30 days to inform the insured that it has chosen to restore or replace the included property.

Insured is a time-honored time period that refers to any individual or entity legally entitled to receive the benefits of insurance coverage, normally claiming bills. Insurers make payments to insureds when they experience a blanketed loss, harm, or harm that qualifies for a price below the coverage's phrases.

Insured is the person who is included against danger. however, the insurer is the company that is imparting coverage. it's far a provider that an insurer offers beneath a selected insurance policy against a top rate paid via the policyholder.

As referred to in advance, the 'insurer' is the only calculating dangers, providing coverage rules, and paying out claims. The 'insured,' then again, is the character (or humans) blanketed below the coverage.

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