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 Under
the property All Risks Insurance the Policy indemnifies the
Insured for accidental physical loss of or damage to the
Property Insured whilst situated at the premises described
in the policy. This will include loss or damage by Fire,
Lightning, Aircraft, Explosion, Earthquake, Strike, Riot,
Civil Commotion, Malicious Damage, Storm, Tempest, Flood,
Bursting or Overflowing of Water Apparatus (including
Sprinkler Leakage), Impact by Own Vehicles, Theft or
Attempted Theft (by violence to persons or threat thereof or
by violent and forcible entry to or exit from the premises)
and Accidental Loss or Damage.
The coverage is usually provided for a period of one year.
However, if it is the requirement of the Insured or the
principals i.e. Banks, municipality etc then such coverage
can be arranged for up to three years.
 The
Sum Insured may be either on the basis of the actual value
or the new replacement value of the property but should be
adequate to cover the total exposure. The Insured should be
able to provide the sum Insured but may seek help of our
underwriters to determine how to do so. The Sum Insured is
very important and needs to be given due consideration to
avoid application of Average in the event of a claim.
The rate chargeable is always applied on "Per Mille" basis
(for every thousand units) on the Total Sum Insured and is
very dependant to the nature of risk, location and the
housekeeping. There is a Deductible for each and every loss
in addition to a number of other Conditions.
Here you will be able to seek information and request
quotation on line. |
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