Jewellers-Block-Policy

We Cover

Section I
This section covers loss or damage to property at your business premises or other specified premises where your property is deposited by fire theft riot strike etc

Section II
This section covers property carried/conveyed outside the specified premises for the business purpose of yours by any cause other than the specified exclusions under the policy.

Section III
This section covers loss or damage to property whilst in transit with in India by
Insured Post
Air Freight

Section IV
This section covers loss or damage to office furniture fixtures in the premises covered and safes at specified residence by fire and allied perils house breaking theft riot strike.

PREMIUM RATING AND DISCOUNT

Premium Rating
The risks are classified as 3 classes :

Class I - Having 24 hours watchman for the premises employed by you in all listed premises.

Class II - Common watchman for the building or night watchman employed.

Class III - All others.

SECTION I



SECTION II



SECTION III
1% on the aggregate Sum Insured under this section.

SECTION IV
0.10% on the Sum Insured

Discounts

Discounts may be allowed in the premium rate for the following:
1. Physical features discount- In case the shop has additional security arrangements like close circuit TV electronic alarms etc then a discount of 5% for each additional feature restricted to a maximum of 10% may be allowed subject to an inspection report of premises by an officer of the company being kept along with the Underwriting papers.

2. Good claims experience discount may be allowed when
Policy is in force for a minimum period of three consecutive years

If average claims experience is less than 50% for the last three years 5 discount may be allowed

Less than 30% 10 discount may be allowed

WHAT IS NOT INSURED

The policy will not pay :
Loss or damage during cleaning repairing restoring

Property missing at stock taking

Articles in public exhibition

Depreciation wear tear etc

Window display after close of business hours

Earth quake Flood cyclone etc.