Praetorian Insurance Company is property & casualty insurer that works under the roof of QBE North America as part of QBE Insurance Group Limited. The group has branch offices in 38 countries worldwide with more than 16,000 employees. It is one of the biggest insurance groups in the international market, parenting more than 45 subsidiaries. Product diversification plays the major part in QBE’s overall business strategy. Despite differences in insurance regulations in different countries, QBE with all its subsidiaries implement standardizations of services, allowing for better control and management at the enterprise level. Types of coverage available from the branches are more or less the same with those from the parent company.

Property & Casualty coverage includes Home Insurance, and Praetorian Insurance Company offers home coverage in six different categories as follows.

BUILDING INSURANCE

Building Insurance covers the central parts of the overall structures or properties including the house, pool, perimeter walls, garage, any building with direct connection to the main house, and outbuildings as well. The company also offers multiple options to increase the total value of the coverage. The financial protection is worth not only the value of the house but also the cost of rebuilding in case of total damage.

Insurance perils in building insurance policy are:

·         Fire ·         Theft ·         Falling tree, aerial, or branch
·         Explosion ·         Malicious damage and vandalism ·         Thunderbolt and lightning
·         Water and other liquid ·         Riot ·         Tsunami and earthquake
·         Collision ·         Flood or rain ·         Storm

 

Primary benefits of home coverage by Praetorian Insurance Company:

  • Financial protection for your building
  • Mortgage discharge cost
  • Accidental glass breakage protection
  • Safeguard of more than 30% on total loss
  • Legal liability of up to $30 million
  • Temporary accommodation cost

Optional benefits in addition to the principal ones are as follows:

  • Damages to fences and gates due to storm
  • Accidental damages to the building
  • The ability to choose the excess you pay

 

  1. CONTENTS INSURANCE

If building insurance is protecting the structure of your house, content insurance protects everything inside it. It can include carpets, entertainment devices, clothing, lawn mower, and furniture pieces. You decide which items to insure, and the company provides the policy according to your personal specifications. The procedure is useful if you have a large number of collectible items. In some cases, for examples, natural disasters including flood or fire, the structure of a building can be intact but many household items are not water or fire resistant. To protect from such losses, Contents Insurance provides the necessary coverage. There is also a possibility that the total value of most items inside a house is worth more than the house.

Home Contents Insurance provides the following protections:

  • Replacement of most items; even when the items are old, the company will provide new ones
  • Protection from accidental glass breakage
  • Food and medicine spoilage due to power failure
  • Coverage for foods and drugs when you are moving to a new home for up to 14 days
  • Protections for the contents of storage for three months with options to extend the protection period
  • Environmental benefits of up to $500 per item and additional $2,500 for the cost of home renovation to improve environmental rating following a claim for loss
  • Loss of credit cards
  • Financial protection for veterinary expenses in case your domestic pet (cat and dog) suffers from injuries due to earthquake, lightning, fire, or road accident
  • Electrical motor burnout
  • Legal liability coverage with a limit of up to $30 million
  • Missing keys replacement

Optional benefits of Contents Insurance from Praetorian Insurance Company:

  • Possibility to extend coverage period for contents in storage
  • Loss of contents due to accidental damage
  • The ability to choose the excess of your payment
  • If applicable, protection for domestic workers compensation
  1. HOME BUILDING AND CONTENTS INSURANCE

Praetorian Insurance Company also offers a combination of home and contents insurance in one policy. It allows homeowners to pay one excess and make everything more manageable. The total premium for the home and contents insurance is less than the cost of separate policies, too.

Foremost benefits of building and contents insurance are:
– Extra cover of up to 30% in the event of total loss                                 – Debris removal coverage

– Environmental benefits during home improvement projects            – Fusion cover

– Coverage for damages to door keys and locks                                           – Temporary accommodation cost

– Coverage for veterinary expense                                                                    – Damages to guests’ properties

– Legal liability of up to $30 million                                                                 – Glass breakage due to accidental damage

– Coverage for appliances, accessories, and spare parts                          – Rebuilding cost

– Coverage for contents in storage for up to 3 months                             – Discount for standard policy

– Mortgage discharge fee coverage                                                                   – Food or medicine spoilage coverage

– Up to 14 days of cover when moving to a new home                      – Coverage for loss credit cards

Optional benefits available from Building and Contents Insurance:

  • The ability to choose the excess of payment
  • Damages to gates and fences due to storm
  • Loss of contents due to accidental damage
  • Extending the coverage period for materials in storage
  • Valuable Insurance
  • Domestics Workers Compensation when applicable

Apart from those three categories, Praetorian Insurance Company provides three more policies including Valuables Insurance, Home Contents Insurance for Strata Property, and Property Insurance for Landlords. Valuables Insurance is a separate system, not as part of home and contents insurance above. This is a policy to protect your valuables when you are away from home.

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