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EQUIPMENT ALL RISK POLICY - policy which covers valuable articles and…
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PREAMBLE PART - Insurer, insured's name, Address of registered office & Premium Charge
BODY PART - Conditions, Warranties, Exclusions, & Endorsement
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• Fire, Lightning, Explosion
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- 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, provided always that such loss or damage is not caused by perils which are specifically excluded by this policy.
- All parties involve except insured, member of insured and does parties under supervision
- Bodily injury & Accident loss of the property damage belong to third party
- Loss or damage caused by or arising from: a) War, terrorism and nuclear risks;
b) Confiscation or destruction or order by any government or authority;
- Over winding or internal damage of watches or clocks
- Loss caused by or arising from repairing, restoring or renovation of any property insures
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- The term “Market Value” shall mean the value of the property insured at time of damage or loss less due allowance for wear and tear and/or depreciation.
- The term “Reinstatement Value” shall mean the cost of replacing or reinstating the loss or damaged property of the same kind or type but not more extensive than the insured property when new.