Page 362 - Fire Insurance Ebook IC 57

Fire and Consequential Loss Insurance

Excess clause

The insurance does not cover the first Rs.50,000/- of each and every
loss in Material Damage insurance for all perils. The excess is applicable
per event and per Insured.

Voluntary deductible/excess

Additional voluntary deductibles are available as under :-

Deductible
n Rs. 2.5 lacs
n Rs. 5 lacs
n Rs.10 lacs
n Rs.25 lacs, or
n Rs.50 lacs

Industrial All Risk Policy

The salient features of this policy are :-
Minimum Sum Insured of Rs.100 crores

Cover provided
a) Fire and all Special Perils
b) Burglary
c) Machinery Breakdown/Boiler Explosion/Electronic Equipment

Insurance
d) Business Interruption (Fire and all Special Perils)
e) The Machinery Loss of Profit cover (optional).

Exclusions
A. Damage to the property insured caused by :
a] i) Faulty or defective design materials or workmanship; inherent

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