Insurance Guides & Resources in Lebanon

The premium is the amount you pay for an insurance policy. It can vary according to the type of cover, the risk being insured, the limits selected, deductibles, underwriting information and the insurer’s terms. Triple H compares suitable insurers and explains the differences before you choose.

A deductible, sometimes called an excess, is the amount of a covered loss that you are responsible for before the insurer pays the remaining amount, subject to the policy terms. Different policies may apply different deductibles, so we explain them when comparing your options.

A policy limit is the maximum amount the insurer will pay under a particular section of cover or for a particular type of claim, subject to the policy wording. Some policies also contain sub-limits for specific benefits or losses.

The sum insured is the value or amount stated in the policy for insured property or another insured interest. Using an inappropriate value can contribute to underinsurance, so the basis of valuation should be understood before cover is arranged.

An exclusion identifies a circumstance, cause of loss, activity or type of damage that the policy does not cover. Exclusions vary between policies and insurers, which is why Triple H identifies and explains relevant differences before placement.

An endorsement is a written amendment to an insurance policy that adds, removes or changes part of the standard cover or policy wording. Endorsements can materially affect how a policy responds and should be reviewed together with the main wording.

Underwriting is the insurer’s process of assessing a risk and deciding whether to insure it, at what premium and on what terms, limits, deductibles or conditions. Triple H presents the required information to suitable insurers and compares the terms they offer.

Indemnity generally refers to restoring an insured, financially, to the position they were in immediately before a covered loss, subject to the policy basis, limits, deductibles and other terms. The way indemnity is calculated can differ depending on the type of insurance.

Underinsurance occurs when an insured value or level of cover is lower than the actual exposure or value that should have been insured. Depending on the policy, this can reduce the amount payable after a loss, including in some partial-loss situations.

The policy wording is the contractual document that sets out what the insurance covers, its definitions, limits, exclusions, conditions and other terms. Triple H reviews relevant wording and explains material differences before you select an option.

Compare more than the premium. Look at the insurer, cover, limits, deductibles or excesses, exclusions, conditions and other terms that can affect how the policy responds. Triple H compares suitable options and explains the meaningful differences before you choose.

Review your cover at renewal and whenever something important changes in your personal, family or business circumstances. Triple H reviews those changes and arranges any necessary adjustments with the insurer.