ALL RISK INSURANCE
The name of the policy is an attempt to explain the wide array of perils that are combined and insured under one policy namely: losses arising from fire, losses occasioned by theft, accidental damage to insured assets.
Assets suitably insured on this policy are valuables and items susceptible to damage. Articles of valuable nature and which are taken away from the office or residential premises are also suitable covered under this policy.
All risks insurance is the widest cover available for property. The policy covers loss or damage to property from all perils other than the ones excluded.
- wear, tear, gradual deterioration, atmospheric condition, mildew, moth, vermin or insects.
- mechanical or electrical breakdown or derangement, unless caused by accidental, external means.
- breakage of glass (other than lenses) or articles of brittle nature (other than jewellery), unless breakage is caused by fire or theft.
- money and related items.
- theft of any insured property from the motor vehicles unless the property stolen is contained at the time of loss in a locked boot or locked forming an integral part of the vehicle.
- loss or damage due to or arising out of delay, confiscation, or detention by customs or other officials or authorities.
Generally, each item is specifically identified and is allocated a separate sum insured.