flood shall usually be regarded as an overflowing of water onto the lands in the consequence of a rise of water level in the beds of flowing or stagnant waters. The definitions given in general insurance conditions of particular insurers may slightly differ.
- Franchising reduced
reduction in the compensation paid by a specified amount or percentage of the insurance sum. From a technical point of view its task is to leave on the client’s risk losses, which from an economic point of view are not important to him. Franchising reduced also has a preventive role, meking the customer interested in the insured risk.
- Franchising integral
the amount for which the insurance benefit is not paid, and above which is paid in full. The action franchise usually involves an integral shut-off of minor damage whose decommissioning costs may be even higher than the amount of damage.
(From the English: fire, lightning, explosion, aircraft) the basic scope of coverage of fire insurance covering fire, lightning, explosion and collapse of the aircraft; FLEX + EC (called the extended cover) – fire and other risks / other random events.