Property Insurance

Householders’ Package Policy

This is a package policy specially designed to meet the insurance requirements of a householder by combining under a single policy, a number of our standard policies usually taken by householders. . The policy comprises of following 10 sections:

  • Fire & Allied Perils
  • Burglary & House Breaking including larceny and theft
  • All Risks (Jewellery & Valuables)
  • Plate Glass
  • Breakdown of Domestic appliances
  • T.V. Set including VCP/VCR (ALL RISKS)
  • Pedal – Cycles
  • Baggage
  • Personal Accident
  • Public Liability

Discount in premium is offered depending upon the number of sections of the policy, opted for, by the proposer.

Contractors (Construction) All Risks Insurance

This policy is specially designed to give financial protection to the Civil Engineering Contractors in the event of an accident to the civil engineering works under construction. In case the policy period exceeds 12 months, the premium can be paid in quarterly installments with the first installment being more by 5% and the last installment being paid 6 months before expiry of the policy. The policy comprises of 2 sections:

Material Damage: Covering physical loss, damage or destruction of the property insured by any cause, other than those specifically excluded in the policy

Third Party Liability: Covering the legal liability falling on the insured contractor as a result of bodily injury or property damage to a third party

Contractor’s Plant and Machinery Insurance

This policy covers all different types of machinery used for handing material or construction. The policy covers sudden, accidental, external damage to the insured machinery due to any cause other than those specifically excluded in the policy.

The policy covers the machinery whilst they are in operation or at rest or whilst being dismantled for the purpose of cleaning or overhauling or whilst being shifted within the premises or during subsequent re-erection, but in any case only after successful commissioning.

Electronic Equipment Insurance

This is a specially designed policy which covers accidental loss or damage to electronic equipment. The policy covers the following types of equipments:

  • Electronic data processing machine
  • Telecommunication equipment
  • Transmitting and receiving installations(including Radio, TV, Cinema Sound Reproduction and Studio Equipment)
  • Material testing and research equipment
  • Electro-Medical Installations
  • Signal and Transmitting units
  • Office calculators, duplicating machines and Reproduction machines
  • Control and supervisory units

The policy can be extended to include the following risks on payment of additional premium:

  • Damage to external data media for example punch cards, tapes, discs etc. as also the cost of reconstruction of data on this external media caused by a peril covered under the policy.
  • The additional expenditure incurred due to use of a substitute computer system as a result of an accidental damage to the computer insured under the policy and which is covered by the policy.
Erection All Risks (also known as Storage Cum Erection Insurance)

The Erection All Risks insurance provides a comprehensive insurance solution covering wide range of risks to which a project work is exposed to, starting right from arrival of material at site till successful testing and commissioning of the project. This policy is extremely useful for Principal owners, contractors, consulting engineers, architects and financiers because it contributes to reducing the overall construction and erection expenses and offers them protection against unforeseen accidents leading to financial losses under a single policy. This is an ‘All Risk’ policy covering sudden and unforeseen physical damage to projects under erection insured by any cause or peril not specifically excluded under the policy and resulting during the course of:

  • Erection
  • Storage
  • Testing
  • Commissioning
Machinery Breakdown Insurance

This is a policy which covers financial loss incurred by the insured due to loss or damage to machinery as a result of sudden accidental electrical and mechanical breakdown. It reimburses the insured for the cost of repairs or replacement of machinery of like nature.

Shopkeepers’ Package Policy

This is a package policy specially designed for small shopkeepers. It is a single policy combining the various insurance requirements of shopkeepers. Only one policy can be taken by one shopkeeper for each shop in a specific location having separate books of accounts. The policy comprises of following 11 sections :

  • Building & Contents
  • Burglary & Housebreaking
  • Money Insurance
  • Pedal – Cycles
  • Plate Glass
  • Neon Sign/Glow Sign
  • Baggage
  • Personal Accident
  • Fidelity Guarantee
  • Public Liability
  • Loss of Profit

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