This policy offers you protection in case your electronic equipment suffers accidental loss or Damage. The policy covers sudden and unforeseen physical damage including breakdown to the electronic equipment covered under the policy due to any reason not specifically excluded. This policy covers entire range of Electronic Equipment's from a Personal Computer to sophisticated gadgetry.
The policy covers sudden and unforeseen physical damage including breakdown to the electronic equipment covered under the policy due to any reason not specifically excluded
This is a policy, which covers physical loss or damage to machinery and equipment against unforeseen and sudden, physical loss of, or damage to the insured items, necessitating their repair or replacement, other than specified excluded perils. Monetary costs involved for restoration of machine after breakdown to its original state are covered by the machinery (breakdown) insurance policy. Cover is valid during the time the machinery is at work or at rest. Machinery being dismantled for cleaning / overhauling and in course of these operations being shifted within specified premises or being re-erected subsequently is also covered.
The policy covers all kinds of electrical and mechanical breakdown subject to the following exclusions:
The sum insured should represent the present day replacement value of the insured item, which includes all incidental expenses like custom duties, taxes, excise, freight, insurance charges, handling charges etc. In case the sum insured under the policy is less than as per the above requirement the claim will be paid only in such proportion as the sum insured bears to the current replacement cost of similar new machinery.