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The New India Assurance Fire Insurance |
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Deletion of Perils at the inception:
STFI and RSMTD perils can be deleted at the inception of the policy for which suitable reduction in package premium rate is allowed.
Add on covers
In addition to the perils/ expenses covered, the proposer can opt to seek cover in respect of the following perils/ expenses at inception or during currency of the policy on payment of additional premium :
Perils:
Loss/ damage/ destruction of the property caused by
• Deterioration of Stocks in Cold Storage premises due to power failure following damage due to an insured peril
• Forest Fire
• Impact Damage due to Insured´s own Vehicles, Fork lifts and the like and articles dropped therefrom
• Spontaneous Combustion
• Omission to insure additions, alterations or extensions
• Earthquake (Fire and Shock).
• Spoilage material damage cover.
• Leakage and contamination cover.
• Temporary removal of stocks.
Expenses:
• Architects , Surveyors and Consulting Engineer&s Fees (in excess of 3% claim amount)
• Debris Removal (in excess of 1% of claim amount)
• Loss of rent.
• Insurance of additional expenses of rent for alternative accommodation.
• Start up Expenses.
Who can take the policy
Any person / firm / organisation / institution who may suffer financial loss in the event of operation of insurable perils may insure such property under the fire policy. They may be broadly categorised as under :
1. Owners of Building and contents such as house hold articles, furniture etc.
2. Shop Keepers.
3. Educational/ Research Institutions.
4. Hotels, Boarding and Lodgings, Hospitals, Clinics or such service providers.
5. Industrial and Manufacturing Firms.
6. Godown Keepers.
7. Bailees, Lessor, Lessee, Banks, Financial Institutions, Mortgagors, Mortgagees.
8. Traders in stocks.
9. Trustees, Charitable Institutions.
10. Transporters and C & F Agents.
How to claim
If a misfortune befalls, leave the worry to us but please
• Intimate such loss / damage immediately so that a Competent Surveyor may be deputed to minimize the loss.
• Give an account of all properties damaged or destroyed with estimated amounts having regard to their values as on the date and place of loss.
• Cooperate with surveyors by providing all the necessary documents for assessment of loss and establishing liability.
• Cooperate with the insurer in all their activities of entering the premises, taking possession of properties, their examining, sorting, removing or selling to your account, without prejudice.
• Inform particulars of all other insurances existing on the property at the time of loss.
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