Common Condition in Insurance Policy

What is TRUE about Common Condition in insurance policy?

a. Insurer has the right to inspect the property. b. Insurer inspection constitutes a warranty. c. Insurer has duty to inspect insured's property. d. Insurer will assess insured for inspection cost.

Final answer:

The true statement about Common Condition in an insurance policy is that the insurer has the right to inspect the property.

When it comes to Common Conditions in an insurance policy, one key aspect to understand is that the insurer has the right to inspect the property. This means that the insurance company has the authority to visually examine the insured property to assess its condition.

This condition does not mean that the insurer is obligated to conduct regular inspections, nor does it imply that their inspection constitutes a warranty of the property's condition. It simply grants them the right to occasionally inspect the property when necessary.

In most cases, the costs associated with these inspections are not directly charged to the insured unless specifically stated in the policy. It's important for policyholders to be aware of this common condition to ensure they understand their rights and responsibilities under the insurance agreement.