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| Yes, provided the insured is the registered owner as indicated in the Declaration of Real Property and/or any document to prove insurable interest. |
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| Yes, but up to the extent of your interest only.
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| No, for lack of insurable interest. However, what you can insure are the contents like furniture, appliances, and the like.
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| Actual repair cost less depreciation and deductible, if any.
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| Yes, through the Replacement/reinstatement endorsement. |
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| Yes, if the value of the property is equal to the value of the loan; if greater, you may secure additional insurance for the difference.
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| Loss/damage if any under the policy shall be payable to mortgagee bank and/or institution and/or persons up to the extent of their interest. |
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| No. In general, the value of the property is determined by a professional appraiser but for insurance purposes, the “area method” can be used, which considers the floor area and construction of the property.
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| You don’t need to make an itemized list but should make a realistic estimate of the value of the contents to be insured. |
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| Yes, as personal effects. |
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| No, but you have the option to include the said cover through endorsement and payment of additional premium.
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| No, but you have the option to include said cover through endorsement and payment of additional policy.
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| Construction of the property, where it is located and what it is used for.
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| Simply advise Mapfre Asian through telephone, fax, telegram, or text message and an adjuster will be dispatched to help the insured.
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