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Caters to the requirements of the clients who desire to have all risks in respect of their machinery and/or equipment or any other property covered under a single policy.
Scope
Damage or financial loss caused due to fire, lightning, burglary etc. are covered.
Highlights
Caters to the requirements of the clients who desire to have all risks in respect of their machinery and/or equipment or any other property covered under a single policy.
Premium
The rate of Premium varies from 1% to 2% of the value of the property to be covered.
Add on Covers
Riot, strike and civil commotion can be covered on payment of additional premium
Earthquake, flood sometimes covered on payment of additional premium.
Exclusions
War & allied perils
Nuclear risks.
Overloading or strain.
Loss or damage occurring whilst being used for racing or peacemaking.
Consequential loss, depreciation, wear & tear or mechanical breakdown.
