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The New India Assurance Fire Insurance |
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Special types of Policies available for Stocks:
1. Declaration Policy :
• To care care of frequent fluctuations in Stocks/ Stock Values
• Minimum Sum Insured Rs. 1 crore per location.
• Monthly declaration on any one of the following basis to be submitted before the last day of the succeeding month
1. average of the highest values at risk on each day (or)
2. highest value on any day of the month.
Refund of premium, on expiry of policy, based on the average declaration upto 50% of the provisional premium.
2. Floater Policy :
• to take care of frequent changes in values at various locations.
• Single sum insured for all the stocks in all the locations.
• Nominal premium loading to cover all the stocks in all the locations.
Perils Covered:
• Fire
• Lightning
• Explosion / Implosion
• Aircraft damage
• Riot, Strike, Malicious and Terrorism damage (hereinafter called RSMTD Perils)
• Storm, Tempest, Flood, Inundation, Hurricane, Cyclone, Typhoon and Tornado.
• Impact by any Rail/ Road vehicle or animal
• Subsidence / Landslide including rockslide.
• Bursting and / or overflowing of water tanks, apparatus.
• Leakage form Automatic Sprinkler Installation.
• Missile Testing Operation.
• Pollution or contamination resulting from any of the above perils
• Any insured peril resulting from pollution and contamination.
• Bush Fire
Expenses Covered:
The policy automatically covers the following expenses incurred following loss / damage / destruction of a covered property as a result of the operation of an insured peril.
1. Architects, Surveyors and Consulting Engineer´s Fees upto 3 % of the claim amount.
2. Expenses incurred for removal of debris to clear the site upto 1 % of the claim amount.
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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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