Property Insurance
- Fire & Perils
The policy indemnifies the insured against losses suffered in case of fire incidences and related perils.
Major risks covered
- Fire incidences
- Acts of God such as Thunderstorm, Wind damage, Hail, Rain, Floods, lightning, earthquake etc.
- Overflowing or bursting of municipal or other public water supply mains
- Bursting or overflowing of water tanks, apparatus or pipes excluding damage thereto Fire incidences
- Aircraft damage and other aerial devices or articles dropped therefrom
- Impact damage of the building by any road vehicles, horses or cattle not belonging to the insured.
- Riot and strike
- Malicious damage
Major Exclusions
- Theft of insured items following fire
- Loss or damage to property occasioned by its own fermentation or natural heating
- Loss occasioned by burning of the property by any public authority
- Loss contributed to by any nuclear weapons materials
- Political violence and Terrorism related risks
- Burglary
The cover indemnifies the insured against loss or damage to insured property caused by theft following actual forcible and violent entry into or exit from the premises.
Major Exclusions:
- Loss or damage where any member of the insured’s house hold or employee is involved
- Consequential loss of any kind
- Excess noted on the schedule
- Goods in the open unless specifically mentioned
- Unexplained losses
- Political violence and Terrorism related risks
- Loss of deeds, money, cheques, postage stamps etc.
- All Risks
The Cover indemnifies the insured against any loss or damage to the insured items from any accident or any other peril other than what is specifically excluded.
Major Exclusions:
- Wear, Tear and depreciation
- Gradual deterioration
- Inherent vice or defect
- Mechanical or Electrical breakdown
- Breakage of brittle articles unless as a result of fire, theft, or accidental means external to the insured item
- Theft by any member of the insured’s household or his employee
- Consequential loss of any kind
Property Insurance