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1. Obligation to own and sign the  Contract: The policyholder's obligation to read, understand and sign the contract is fundamental to the contract of insurance. After signing the contract, the insured is required to take one copy for reference.
2. Obligation To Pay Premiums:The policyholder's obligation to pay policy premiums is fundamental to the contract of insurance.
3. Requirement Of Notice Of Loss: The purpose of an insurance policy provision requiring a timely notice of loss is not merely to inform the insurer that the accident has in fact occurred. Rather, it also provides the insurer with an opportunity to investigate the claim and determine its rights and liabilities in the action. Policyholder must therefore give timely notice of a loss or claim by providing sufficient information to appraise the insurer of the nature of the loss or claim.
4. Notice Of Loss And Proof Of Loss: Written notice of injury or of sickness upon which claim may be based must be given to the company after the occurrence or commencement of any loss for which benefit arising out of each such injury or sickness may be claimed, or as soon thereafter as is reasonably possible.
5. Requirement Of Cooperation By The Insured Liability: Insurance policies generally contain clauses requiring the insured to cooperate with the insurer in the conduct of the action by assisting settlement efforts, attending hearings and trials, and securing and giving needed evidence.
6. Misstatements By The Insured (Application honesty): Misstatements or misrepresentation can void a policy, especially if company can show it would not have issued policy if it had known the facts.
7. Keep down exposure to risk: If insurance companies discover you’ve been behaving recklessly, in a way that could increase your chances of a claim, they’ll consider discontinuing your insurance coverage.
8. Collusion between the insured and claimant:Every insurer has at some point faced a situation in which it knows or suspects that its insured has collaborated with a third-party claimant in order to influence the availability of insurance coverage for the claims against it.
9. Keep your information current: If you move, change your beneficiaries, or you no longer own the property that you had insured, make sure you let your insurance provider know.