To #indemnify means to restore someone to the same #financialposition they were in just before a loss occurred.

In the context of insurance, this means compensating the insured party for their loss, whether through payment, repair, or replacement, so they are “made whole” again. For example, if your insured car is damaged in an accident, the insurance company would indemnify you by covering the repair costs, bringing your car back to its pre-accident condition.

Do you have any specific questions about indemnification or how it works in insurance?

Sincerely,

Harpreet Singh, Most lovable ❤️ Insurance Broker in Ontario

Phone – 6476217890

Email – insurancechampion@outlook.com  

#insurancebroker #bestinsurancebroker #BusinessInsurance #TruckInsurance #Daycareinsurance #supervisainsurance #restaurantinsurance #contractorinsurance #harpreetsingh #harpreetsocial #harpreetinsurancebroker #Ontario #Goals #Success #claimconsultant #Insuranceclaim #insurancechampion