Property insurance covers eligible loss or damage to buildings, contents, stock, or other specified property interests. It may insure named perils or use a broader all-risks insurance structure. Settlement depends on insured values, valuation terms, exclusions, and any average clause.
A Nepalese homeowner or business should distinguish the cost to rebuild structures from the market value of land. Check whether earthquake, flood, and landslide exposures are included. Update the sum insured when construction costs or stock levels change, and document important assets before a loss occurs.