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EQUIPMENT ALL RISK INSURANCE (GENERAL EXCLUSION Loss or damage caused by…
EQUIPMENT ALL RISK INSURANCE
WHAT IS ALL RISK INSURANCE?
“All risk” protection covers the most common risk that could directly damage your property
WHAT IS EQUIPMENT ALL RISK POLICY?
It is a policy which covers valuable articles and portable item such as cameras, laptops, watches, clocks, paintings, works of art and etc
SCOPE OF COVER
Fire, Lightning, Explosion
Burglary, theft
Accidental Damage or any misfortune
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, provided always that such loss or damage is not caused by perils which are specifically excluded by this policy.
SECTION 2: THIRD PARTY
A third person or organization less directly involved in a matter than the main people or organizations that are involved
THIRD PARTY LIABILITY
Bodily injury
Accident loss of the property damage belong to third party
EXCLUDED PERILS
i) The policy exclude highly costly or uncommon perils
ii) Insurance company does not bear responsibility of providing financial relief for the listed perils
GENERAL EXCLUSION
Loss or damage caused by or arising from:
War, terrorism and nuclear risks;
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
Loss to camera, telescope etc by mechanical derangement, breakage of lens etc.
Damage to gramophone records by cracking, scratching, chipping or breakage