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EQUIPMENT ALL RISK POLICY (SCOPE OF COVER (Burglary, theft, Accidental…
EQUIPMENT ALL RISK POLICY
“All risk” protection covers the most common risk that could directly damage your property
EQUIPMENT ALL RISK POLICY
covers valuable articles and portable item such as cameras, laptops, watches, clocks, paintings, works of art and etc
SCOPE OF COVER
Burglary, theft
Accidental Damage or any misfortune
Fire, Lightning, Explosion
duration of cover
1 Year and need to renew the policy annually
section 1
material damage
Covers you against loss of or damage to your insured property that happening during the period of insurance within the specified location or territorial limit
section 2
third party liability
In either case your business could be faced with a compensation claim
EXCLUDED PERILS
Insurance company does not bear responsibility of providing financial relief for the listed perils
Policyholders may request to cover extra perils by paying an additional premium to the company
The policy exclude highly costly or uncommon perils
SUM INSURED
follow market price
Premium Warranty
contract of insurance that the premium due must be paid and received by the company within sixty (60) days from the inception date of this policy
Excess clause
amount of loss you have to bear for each and every claim
Duty of disclosure
Insured must disclose relevant information to the insurer before a contract is entered