This policy provides compensation to the insured person or firm in the event of damage to the property insured (i.e. buildings, stock, machinery and other contents) caused by fire, lightning as per the terms and conditions of the policy.
Followings are the additional covers available:-
- Riot and Strike
- Malicious Damage
- Explosion
- Atmospheric Disturbance (Flood, inundation, etc)
- Earthquake, Fire and Shock
- Aircraft Damage
- Impact Damage
- Burglary and Housebreaking
- Electrical Clause “B”
- Removal of Debris
- Loss of Rent
Exclusions
Followings are the exclusions to this policy:-
- Theft / Burglary House Breaking
- Willful Act
- Gross negligence
- Loss to bullion, documents, currency etc
- Loss of earnings/ Business Interruption
- Losses arising out of War and War like situations
- Terrorism, Civil Commotion, Popular / Military Rising, Insurrection etc
- Nuclear Fission/ Biological etc
- Spontaneous Combustion
- Loss or damage to the property insured by order of public authority
- Misrepresentation