To secure for a Fire & Lightning Insurance Proposal think of C.O.L.D.S. that stands for:
COVERAGE: There are several items that falls under coverage such as what type of coverage would like you like... is it the Basic Fire & Lightning Insurance or with the Allied Perils? How much coverage for the building? How much for the contents? Example: I want only a Basic Fire & Lightning Insurance Coverage for my house with the amount of Ps. 5,000,000 for the Building and Ps. 1,000,000.
OCCUPANCY: For the underwriter to give you a good rate, you must declare how the building is used for such as: Purely Residential, Semi-Commercial and Residential (such as store in front of the house, Purely Commercial. In case the building is used for commercial purposes, the nature of the business should be declared too.
LOCATION: Please give to us the complete and exact location address of the risk to be covered. Most often, we check on the risk by inspecting it. Anyway, you don't need to pay us anything for inspecting your house or building. Again INSPECTION is FREE. Also we would like to know the bounding areas from the building to be covered. What is in front of it, what is behind or rear of it, what's beside it? What's left of it and what's right of it?
DESCRIPTION: We would like to know what is the specific description of the building you are to insure. Such as what are the walls made of? Wood or concrete, or combined?... What is the roof of the building? Galvanized iron, cement, tegula tiles?
SAFETY: To secure a premium discount, we would like to know if there are safety equipment in the building to be insured such as fire extinguishers, sprinklers, fire alarm systems. In connection, if you have a neighboring fire station nearby the risk, then that will help in lowering the premium