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Property All Risk

  • Property Insurance is designed to cover wide range of properties including Buildings, Machineries, Stocks, Furniture, etc.

  • The premium is determined by considering mainly the quality of construction of buildings, Operational hazards, level of safety and protection and is issued on an Annual basis.

  • This Insurance is designed to cover your properties against loss or damage caused by any accident or misfortune unless specifically excluded in the Policy.

  • The property to be insured may consist of the following physical assets:

    1. 1. Building
    2. 2. Furniture, fixtures and fittings
    3. 3. Plant and equipment
    4. 4. Office equipment
    5. 5. Stock in trade from raw materials to finished products.

  • Property “All Risk” Insurance provides comprehensive protection including fire, lightning, storm, hurricane, earthquake, volcanic eruption, flood, impact damage, etc. other than those few mentioned as ‘exclusions’ under the policy.

  • The sum insured may be either on the basis of the actual value or the new replacement value of the property.

  • Extensions are available for enhancing the covers in terms of additional exposures, costs and expenses consequent to a loss. Some of the important ones are listed below.

    1. 1. Architects fee
    2. 2. Debris removal expenses
    3. 3. Capital addition of assets
    4. 4. Temporary removal of property
    5. 5. Cover on reinstatement value (new for old) basis for property other than stock
    6. 6. Periodical declaration facility of stock sum insured.
    7. 7. Possible extensions