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Equipment All Risk Policy (scope of cover (fire,lightning, explosion,…
Equipment All Risk Policy
what all risk insurance
"All risk" protection covers the most common risk that could directly damage your property.
scope of cover
fire,lightning, explosion
burglary, theft
Accidental Damage or any misfortune
duration of cover
1 year and nee to renew the policy annualy
section 1
material damage
section 2
third party liability
bodily injury
accident loss of property damage belong to third party
excluded perils
insurance company does not bear responsibility of providing financial relief for the listed perils
the policy exclude highly costly or uncommon perills
policyholders may request to cover extra perils by paying and additional premium t o the company
general exclusion
wear and tear,
scratching of denting of any article or breakage of lesson or glass, earthware or other article of a brittle nature unless caused by burglary, thieves or fire
war
sum insured
the sum insured should represent the full value of your property
it is requirement of this insurance the sum insured stated in the schedule shall not be less than the full value of each item
basis of compensation
market value
reinstatement value