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Bank Locker Protector Policy is the first policy in the industry to protect the contents of a bank locker such as jewellery and other valuables.
Online Bank Locker Policy From IFFCO-Tokio
Bank Locker Protector Policy is the first policy in the industry to protect the contents of a bank locker such as jewelry and other valuables. Here are some of the salient features of the policy:
What it covers?
The policy covers loss or damage of the contents of bank locker in the event of:
any accident
burglary, holdup
infidelity of bank staff
any act of terrorism
Extended Coverage
Share and stock certificates, deposit receipts.
Insurance policy.
Title deeds, plans, and manuscripts.
Passport.
Other personal records and certificates.
Major Exclusions
Any excess mentioned in the policy schedule.
Unexplained loss or mysterious disappearance from the locker.
Any items which are not stored within a secured bank locker.
Any loss in value or loss due to accounting errors or omission.
Any claim due to unauthorized use of the documents.
Cancellation
The policy can be canceled by the company on grounds of fraud, moral hazard or misrepresentation or non-cooperation by sending 15 days' notice. In such an event, IFFCO-Tokio will return to the insured, except in case of fraud or illegality, the premium paid less the pro-rata portion thereof for the period the policy has been in force. Insured may also cancel this policy by sending 15 days' written notice. The company will then allow a refund after retaining the premium based on specified rates.
