- How Much Money Is Needed To Invest In Rental Property?
- Should A Real Estate Investor Get An Agent’s License?
- 5 Big Factors That Affect The Costs Of Renovating Your Home
- SIBOR Hike – What You Can Do With Your Current Loan
- 6 Basic Don’ts Of Real Estate Negotiation Tactics
- Will New Condo Relaunches Trigger The Great Property Sale We Have All Been Waiting For?
- 10 Proximity Amenities That Add Value To Real Estate
- How To Get Personal Loans More Easily With Good Credit
A clear-space clause is a clause contained in property insurance policies which state that an insured real estate should be of a minimum particular distance away from certain noninsured property that are hazardous.
This can be applicable for both real property and personal property.
For example, an insured property needs to be at least a hundred yards away from storage facilities that store explosive chemical compounds like dynamite and lithium ion batteries.
This clause can be inserted into a policy even when the two premises belong to the same owner.
In such cases, the policyholder must ensure that the hazardous materials are separated by a proper distance as specified in the terms of the policy.
Failing which any claims from damage or destruction of property might be declined.