‘Value at Risk’ at any one location means the value of all property in that location including Buildings, Fittings and Fixtures, Plant and Machinery, Stocks, other contents etc where the proposer has insurable interest.

There is no provision in the policy to exclude Inbuilt Perils.

In these products, under insurance is waived up to 15%, but beyond that under insurance is applicable to full extent.

At the request of the insured, Sum insured under the policy can be increased / decreased subjected to payment of premium.

There is an option to increase the coverage by the means of add-ons.

During mid-term, there will be no impact on policy wording due to Sum Insured increase. However, at the time of renewal, applicable policy wording as per sum insured will be selected while policy issuance.

Upon occurrence of an Insured peril, these are the costs incurred by insured (on actual basis) at the time of Reinstatement of property due to change in Municipal Regulations.

Impact damage of any kind means damage caused by impact, or collision caused by, any external physical object (e.g. vehicle, falling trees, aircraft, wall etc.).It is similar to the traditional accidental damage.

Floater is an inbuilt cover under this policy.

Losses / damage due to theft will be covered within 7 days from occurrence of an Insured peril.