WHY CHOOSE US?

AOG refers to Act of God perils and includes Storm, tempest, Flood and inundation, subsidence, rockslide, Landslide, Earthquake, tsunami and other natural calamities which are beyond the control of humans.

No. Breakdown of apparatus is not covered under the policy. It can be covered under Machinery breakdown policy or Electronic equipment policy depending on the nature of equipment. These covers are also available under Package policies like Householders’ policy, Shopkeepers’ policy and Industrial all risks policy.

No. Inspection is not mandatory for simple risks like dwellings, hotels etc. However, for highly hazardous risks like textile mills, plastic manufacturing risks etc., the insurance proposal is normally accepted after satisfactory inspection by risk engineers.

Yes. But it has to be specifically mentioned & agreed to by the Company. These are covered on specific request and subject to valuation where necessary.

Insured is expected to behave as though he is uninsured. Insured must take all precautions to prevent / aggravate the loss. He must immediately inform Insurance Company so that they get an opportunity to inspect the damages. Inform fire brigade who will assist to put out the fire. Extend cooperation to surveyor while inspecting and assessing the loss. Give completed claim form and documents as required by Insurer, in support of your claim. After repairs / replacement, submit bills to Insurer.

Yes. At Insured's option: Retention of premium on short period scale and balance if any, will be refunded. At Insurer's option: Pro-rata refund of premium will be allowed.

Fire and other perils (covered under a fire insurance policy) can indeed cause loss of or damage to buildings. There have been fire accidents that have caused substantial damages to multi-storey buildings, hotels and shops. Floods and earthquakes can also cause devastating losses.

It reduces the burden of renewing the policy every year. Long term policy can be submitted to Bank/Financial institution for loan period as per their requirement. Either discount facility can be availed or facility of automatic increase in Sum insured can be availed.

No. The entire premium is to be paid in advance. However, long term discount can be availed based on the number of years.

Long term policy can be taken by Owners of individual houses and is applicable only for the building.

Yes. The Sum Insured can be enhanced or reduced during currency of the policy.

All details related to the asset to be insured can be mentioned in the proposal form which shall be sufficient.

Yes. The policy can be issued with Agreed bank clause mentioning the name of the bank/Financial institution from which loan is availed.

No. The policy is always to be taken for full value of asset either on market value or Reinstatement value on Sum insured. Else, the claim shall be proportionately reduced.

Sum insured is the value for which the asset is insured. It is to be decided by the proposer considering the value of assets on Market value (M.V) or Reinstatement value basis (RIV). In the case of MV policy, in the event of a loss, depreciation is levied on the asset depending on its age. In the RIV method, the Insurance Company will pay the cost of replacement subject to ceiling of S.I. Under this method, no depreciation is levied. One condition is that the damaged asset should be repaired / replaced in order to get the claim. RIV policy is allowed only for FIXED ASSETS and not for other assets like stocks and stocks in process. Proposer has the option to choose MV or RIV basis and has to specify the same in the proposal.

SFSP policies are annual policies i.e one year policy period. Policies with longer period can be availed only for dwellings (Individual houses).

Yes. Package policies like Householders’ policy, Shopkeepers’ policy, office package and Vyapar Suraksha are available covering fire & allied perils, breakdown, burglary, legal liabilities, Personal accident, Money, plate glass, etc.

No. Although the policy is commonly referred to as Fire policy, the SFSP policy covers Fire, Lightning, Explosion/implosion, Aircraft damage, Riot, strike & malicious damage, Storm, tempest, flood and inundation, Impact damage (By Third party vehicle or animal), Subsidence and landslide including rockslide, Bursting and/or overflowing of water tanks, apparatus and pipes, Missile testing operations, Leakage of automatic sprinkler installations, Bush fire. These are termed as fire and allied perils.

Yes. But all contents to be insured without selection.

Building and contents such as Household articles and equipment, Furniture, fixtures, fittings, Machinery, stock whether owned or held in trust.

Any individual or Organisation having an interest in the assets being proposed for insurance, i.e. he/she should stand to lose financially in the event of loss or damage to such assets. This includes Owners, Bailees, Lessor, Lessee, Banks, Financial Institutions, Mortgagors, Mortgagees, Transporters and C & F Agents.

Owners of Building and contents such as house hold articles, furniture etc., Shop Keepers, Educational/ Research Institutions, Hotels, Boarding and Lodgings, Hospitals, Clinics or such service providers, Industrial and Manufacturing Firms, Godown Keepers, , Traders in stocks, Trustees, Charitable Institutions, Transporters and C & F Agents.

These policies are issued where stocks are shuttered between different locations so that it is not possible for the insured to specify the value of the stocks at each location. A floater policy can thus be issued covering stocks in more than one location under one amount by charging 10 % extra premium over and above the highest rate applicable to any one risk.

A Declaration policy is best suited for a client whose stocks are subject to frequent fluctuation during the currency of the insurance. To take care of frequent fluctuations in stocks/stock values, Declaration Policies are issued.

Floater Declaration policies can be issued subject to a minimum sum insured of Rs 2 crores and compliance with the Rules for Floater and Declaration Policies respectively.