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PROPERTY INSURANCE (Commercial propertes damage ways) Chapter 4 (Fire and…
PROPERTY INSURANCE
(Commercial propertes damage ways) Chapter 4
Fire and special perils insurance
Cover:
Fire
2.Lghtinig
Explosion
Extension:
Perils of chemical type - explotion, spontaneous fermentation or heating
Social perils - riot, civil commotion, strickers, locked-out workers, persons taking part in labour disturbances, malicious persons
Perils of nature - storm, flood, earthquake, subterranean fire, subsidence, ground heave, landslip
Miscellaneous perils - escape of water, aircraft, impact
Exclusions:
riot or civil commotion
war risks
radioactive contamination / explosive nuclear assemblies
Nothern Ireland excluded perils
terrorism
pollution or contamination
marine policies
more specifically insured clauses
consequentual loss exclusion
All risks insurance
Cover:
covers accidental loss or destruction of or damage to the property insured
Exclusions:
those which are absolute exclusions
those which relate to an aspect of cover which can sometimes be included in the policy, but only with careful underwriting
those which relate to an aspect of cover which can be writen into the policy
those which relate to property or risks which are more appropriate to another class of business and therefore cannot be covered
Theft insurance
Cover:
Theft involving entry to or exit from the premises by forcible and violent means
Optional extensions:
breakage of glass
replacement of locks
temporary removal
index linking
collusion
extended or full theft
robbery and aggravated burglary
Exclusions:
Collusion
Fire and explosion (fire policy)
Cash and bank notes (money policy)
Livestock
Glass insurance
Cover:
All fixed glasses
windors, doors, fanlights, showcases, mirrored glass and glazed partitions.
Shop fronts, lettering or display on the glass.
windows frame
Optional extensions:
damage to shopfrpnt contents as a result of broking glazing
damage to washbasins anad sanitary fittings in hairdressing salons.
Exclusion:
Scraching or chipping
damage by fire, lightinig and explosion
Money insurance
Cover:
(Cash, Bank and currency notes, cheques, postal and money orders, postage stamps, national insurance cards, luncheon vouchers)
In transit or being carried by the insured or their employees.
On the insured premises during business hours.
In a bank nignt safe
In a locked safe or strongroom out of business hours (for a large amount, insurers will wish to approve the safe)
on the insureds premises out of business hours and not in a safe, but usually with a low limit, say 500
In the private residence of any principal or employeeof an isured company (low limit)
In the custody of collectors or travellers while in transit, with a time limit 24 hours of collection
In the custody of a professional carrier or security company.
damage to safes or strongroms occasioned in the course of the theft or attempted theft.
Optional extensions:
Personal accident assault
Credit cards
Exclusions:
war, radioactive contamination and etc
loss due to an error or mission in accounting
loss due to the dishonesty of an employee, not discovered within seven days
loss, arising outside GB, Northen ireland, the Isle of Man or the Channel Islands
loss resulting from the safe or strongroom being opened by a key or by using the combination to a safe where this has been left on the insureds premises while closed for business.