Page 335 - Fire Insurance Ebook IC 57

The Insurance Times

b. Extensions available - On payment of additional
premium, the C.L Policy can be extended to include "Add
on" covers included in the Fire policy, e.g, earthquake,
spontaneous combustion, accidental failure of public
electricity/gas/water supply etc. Appropriate
endorsements are then attached to the policy.

c. Insured property at other location - Sometime owing
to lack of space, a firm may find it necessary to store
commodities at different situations, not in their own
occupation. Extensions then may be granted to cover
interruption of business in consequence of damage to
insured's property at locations other than the one to which
the policy applies.

Such locations however, have to be specified from before
and a limit (percentage of sum insured) is placed on the
amount. The addition to the basis rate is produced by
applying a predetermined percentage. This extension
cannot be applied to the insured's other manufacturing
premises. The other premises can be included in the
description from before and an average contents rate
can be made applicable.

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