Which Property Insurance To Buy

Package or umbrella policies

Packages or umbrella covers are available which provide many types of cover under the same document. For example, cover of Planet Owners Policy, Shopkeeper Policy, Office Package Policy etc. are available, in which under different policies, various material properties are included in the building, items etc. In addition to covering the property in such policies also covers certain private lines or liabilities. The coverage and exclusions that are under consideration of the policy you are considering must be well-understood. The terms and conditions for the package or umbrella cover for all sections may be the same and specific conditions for the particular section of the policy may also be specific.

fire insurance

Standard Fire Insurance Policy, is the most popular property insurance. Fire Insurance provides protection against unexpected loss or damage / destruction of property due to the policy, fire, or other crises (disasters) covered under the policy. Accommodation, offices, shops, hospitals, places of worship, and their objects in various types of properties that can be covered under fire insurance policies; Industrial / production risks and their items such as machines, plants, equipment and accessories; Goods, in which factories, warehouses and raw materials kept in open spaces, under-inventories, semi-finished goods, finished goods, packaging materials etc. Risks for useful facilities located outside the industrial / production units; Risks of storage outside the industrial premises; Includes the tank form / gas holder etc. located outside the industrial premises etc.

What is covered in fire insurance policy:

Although it is called ‘Fire Insurance’ but in addition to the risk of fire, cover is also offered against various other crises including electricity, explosion / explosion, aircraft damage, riots, strikes and malicious damage, hurricanes, cyclones, tornadoes , Floods and floods, collision loss, erosion and landslides, including sloping of rocks, bursting of reservoirs, appliances and pipes and / or burning, miss Il tests including operation, automatic sprinkler accidental leakage of installations, forest fires, and so on.

What is excluded in fire insurance policy:

A certain quantity known as ‘excess (access)’ is often not covered in fire insurance policy. Executions (excluded) due to war and war-like proceedings, nuclear crises, pollution or contamination, electrical / mechanical malfunction, theft and damage caused by losses or damages.Some dangers, such as earthquake, spontaneous combustion etc. can be covered by the payment of additional premium.

Fire insurance policies are issued for one year in which the accommodation is not included because the policy can be issued for a longer period (for a minimum period of three years).

Burglary insurance

A burglary insurance policy can be proposed for a business venture or a home. In this policy, the assets kept in the premises are covered, which include stock / goods, or assets kept in trust, if covered specifically. It also covers cash-box placed in a locked cash deposit, valuables, securities, or lock-in steel closet, if you specifically request it for it.

In addition to providing cover for the items kept in the premises, the burglary insurance policy is also covered in the burglary during the theft or during theft of stolen property. Under the policy, till the extent of the sum insured, your insured property is paid for actual loss / damage due to burglary / burglary. If the Sum Assured is not sufficient, then only proportional loss is paid under the policy. Therefore, you must make sure that the value of your covered property has been appropriately evaluated so as to ensure that there is no need to cover the insurance under necessary insurances.
The burglary insurance policy can usually be extended to riots, strikes, malicious damages and other theft.

What does the burglary insurance policy involve?

Usually, under this policy, the goods kept in trust / commissions are not paid for loss / damage caused, if it is not specifically covered, especially when not covered, ornaments, ancient things, selling For deeds, business books etc.; Any money that is recoverable under fire / plate glass insurance policy; Loss in the safe due to the use of a key or duplicate key, if it is not caused by violence or threats; Pilgrimage; Acts done by you / your family members / your employees; War crises; Riots and strikes (can be covered by payment of extra premium), divine disasters;The loss is not paid due to nuclear crisis etc.

All risk insurance

All risk insurance is usually provided for jewelery and / or portable equipment. This cover is often given selectively. The design of the policy can be different from one company to the other. It is important to note that all risk insurance policies are not exempt from exclusions. Therefore, ‘all risk’ does not mean that anything and everything is covered.

What is commonly excluded in all risk insurance?

Look at the exceptions due to cramps or scratches or cracks of brittle goods due to moths, pests, mildew, friction and breakage or repair, dyeing or bleaching, provided they cause accident of transport. Do not be. And no mechanical or electrical breakdown / clutter, if it is not caused by accidental external reasons, over winding, denting or internal damage of hand or wall clocks, cars with theft, consequential losses, no legal liability, war crisis except full closed salons , The nuclear crisis, the action of a government / local authority, and the loss arising from any such action of the insured, Etc. are excluded from the scope of this type of policy.

Extended security can be availed by mechanical and / or electrical / electronic breakdown by payment of additional premium.

Marine Cargo Insurance

Marine cargo insurance covers a combination of transit from water, air, road or railroad, registered postal parcel, courier or two of these or more.

Who can take the Marine Cargo Insurance Policy?
Buyer, Seller, Import / Export Trader, Buyer Agent, Contractor and Bank etc.
The marine cargo insurance policy covers the benefit of the benefit in the cargo and the cover can be extended to the benefit of a third party by which the interest in transfer of ownership as per the sale conditions is of Hosil.

How Marine Cargo Insurance Is Helpful?

Cargo can be damaged due to exposure to various types of risks, including the car carrying the cargo, crashes, shocks, and damage to cargo by shaking etc. Decide whether you want to take a basic cover or take a more comprehensive cover. Please read the terms and conditions of the policy well. Check whether there are some ‘deductible’ in it.

What is normally excluded from the marine cargo insurance policy?

Loss or damage due to inherent defects, delays, inadequate packing, loss or damage due to shipbuilder’s financial paycheck or loan disabilities, etc.

Which other types of property insurance are available?

Some other property insurance is available in the form of electronic insurance insurance, machinery breakdown insurance etc. in the form of engineering insurance policies.