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EQUIPMENT ALL RISK POLICY (Condition (Precaution, Period of insurance,…
EQUIPMENT ALL RISK POLICY
What is all risk insurance?
All risk protection covers the most common risk that could directly damage your property
Scope of cover
Burglary and theft
Accidental damage or misfortune
Fire, lightning and explosion
What is equipment all risk policy?
It is a policy which covers valuable articles and portable item
Duration of cover
1 year and need to renew annually
Condition
Precaution
Period of insurance
Contribution
Claims
Interpretation
Cancellation
Section 2
Third party liability
A third person or organization less directly involved in matter than the main people or organization that are involved
Section 1
Material Damage
Covers against loss or damage to your 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
Excluded perils
Damages to travelling trunks, bags, boxes, and other receptacles other than total loss
Loss or damage to property