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Exclusions
i) 5% of each and every claim resulting from the operation of Lightning. STFI (Storm, Tempest, Flood and Inundation) and Subsidence & Landslide including Rockslide covered under this Policy.
ii) Loss, destruction or damage caused by war.
iii) Loss, destruction or damage directly or indirectly caused to the property insured by nuclear forms.
iv) Loss, destruction or damage caused to the insured property by pollution or contamination.
v) Loss, destruction or damage to bullion or unset precious stones, any curios or works of art for small amount exceeding Rs.10000/-, manuscripts, plans, etc.
vi) Loss, destruction or damage to the stocks in Cold Storage premises caused by change of temperature.
vii) Loss, destruction or damage to any electrical and/or electronic machine, apparatus, fixture or fitting (excluding fans and electrical wiring in dwellings) arising from or occasioned by over running, excessive pressure, short circuiting, arcing, self-heating, or leakage of electricity, from whatever cause (lightning included)
viii) Expenses necessarily, incurred on
a Architects, Surveyors and Consulting Engineer' Fees and
b Debris Removal by the Insured following a loss, destruction or damage to the property insured by an insured peril in excess of 3% and 1% of the claim amount respectively.
ix) Loss of earnings, loss by delay, loss of market or other consequential or indirect loss or damage of any kind or description whatsoever.
Duration of Cover
i) Fire Policies are generally issued for one year.
ii) Long term Fire Policies to cover "Buildings in course of construction" or for Houses/Flats subject to certain conditions.
Sum Insured
BASIS OF SUM INSURED (Standard to be adopted for valuation of assets proposed for Fire Insurance)
MARKET VALUE BASIS ( for both Current & Fixed Assets )
This is determined by the amount at which property of the same age and condition can be bought or sold. This value takes into account both depreciation due to age and appreciation due to inflation. In case of reinstatement value policy, the basis of loss settlement is the value of new property without taking any depreciation into account.
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 Top Providers |
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ICICI Prudential Life |
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SBI Life Insurance |
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Life Insurance Corp. |
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Bajaj Allianz Insurance |
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United India Insurance |
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