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This Policy is designed to cover Pumpsets with capacity upto 25 H.P. of any type which are used purely for agricultural purposes only and driven by electricity or other fuel.
Key Feature
Who can take this Policy
The Proposer may be any individual or Group of people who are either owner or have bonafide interest in the protection of the Agriculture Pumpset
Coverage
Basis of Indemnity under the policy will be on reinstatement value basis.
Agriculture Pumpset Insurance Policy indemnifies the Insured against the loss/ damage of Pumpset arising out of
Fire and /or lightning
Mechanical/Electrical Breakdown.
Riot, Strike, Malicious damage.
Earthquake
Terrorism.
Flood can be covered as an Add on cover under this Policy.
Exclusion
Policy Period
Minimum 1 year to maximum of 3 years.
Other salient points
The minimum premium under all circumstances would be Rs. 300/- per policy.
Sum Insured
Sum Insured under the policy will be on reinstatement value basis.
