CHRONOLOGY OF PROPERTY AND PECUNIARY INSURANCE.
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History had it that property insurance was in the year 1700 in the UK. The need for property insurance arises a result of fire outbreaks in buildings both private and commercial. This policy does not cover houses alone but also other properties such as factory plants and premises in major cities in UK.
The idea was to provide sufficient water supply to the affected properties under the policy. The Practice was later extended to main cities and shops as the business marked an expansion in UK in 1800.
Insurance companies (insurers) were faced with many new problems due to the industrial revolution of commercial activities. Industries and manufacturers were faced with so many problems such as; maintenance of their engines, machines, boilers and explosive chemicals surrounding their manufacturing premises. Other problems such as; ignition of machines, vulnerability of upper floors to fire, gas and oil lamps that were prone to fire and flammable fly or dusts being produced by the factories.
Thus, insurance companies having realized these needs during the industrial revolution, provided fire and boilers insurance as well as engineering insurance due to explosion of engines and collapse of buildings.
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Thank you very much for the useful information. I think many people should update their knowledge in the financial field. All payments to the insurance company are calculated based on the appraiser's report. It is the main thing. Therefore, you should choose qualified specialists. Last month I bought a new apartment and sought help from Homeowners Insurance in Delaware. Btv, you also have to calculate your income level correctly. It is usually accompanied by paperwork. So be patient.
Hi everyone. I have a question about how to choose a really good insurance company, because I am worried about insurance, last time I had an injury, and the insurance company did not get in touch for a long time, it was quite a lot of nerves. Now I want to protect myself, for example, interested me in the company https://www.globelink.co.uk offer promotional something, comes out almost 30 per cent cheaper than my last insurance, what do you think, normal option?