Add-on Covers

Presented By:

Group-3

Avinash kumar Singh Mohit Gulati Monisha Sukhani Pallavi verma Saurabh Bashera Shashi Shekhar Shweta Singh

ADD-ON COVERS
Additional covers available under fire policy. Availed by payment of additional premium at inception. Cannot be availed during currency of the policy period. Endorsement is required.

Spontaneous Combustion
Additional cover provided is only in respect of fire damage only Rates of premium vary according to category Category
I. II. III. IV. Low or Non-existent Moderate Variable High

Rate per mille

0.25 0.50 0.75 1.00

Earthquake
Coverage applies to both shock damage and fire damage. Also applies to flood and overflow of sea, lake etc. caused by earthquake but not if STFI is excluded. All conditions of fire policy apply to this extension. Onus of proof is required. Rate of premium is charged according to location.

Rate of premium (according to location)

Earthquake
I II III IV

Rate Rs. per mille

1.00 0.50 0.20 0.10

Special Conditions
 EXCESS CLAUSE

Each Claim is subject to a deductible of 5% of the net claim amount.

 ONUS OF PROOF CLAUSE

Insured need to prove that loss or damage was occasioned by or through or in consequence of earthquake.

a) Impact damage due to insureds own vehicle damage to insureds property by own vehicles or article dropped there-from b) Forest Fire

Loss or damage to insured property by burning of forest, jungle etc. Rate of premium is Rs. 5/- per mile

c) Architects etc. fees in excess of 3%)

 Fire policy cover architect fees up to 3% of the claim amount.  Rate for the extension is the rate applicable to the fire policy.

d) Debris removal(in excess of 1%)

 Fire policy cover debris removal fees up to 1% of

the claim amount.  Rate for the extension is the rate applicable to the fire policy.

e) Deterioration of stocks in cold storage premises due to power failure following damage due to an insured peril
extension covers damage to the property insured caused by the change in temperature in consequence of electric failure at the terminal end.

Exclusions
Any loss occasioned by the deliberate act of government. Any loss unless duration of each such failure exceed 24 hours.

Thank you