1. HOUSE HOLDER’S INSURANCE: The house holder’s insurance is a package cover designed to meet
various insurance requirements of a house holder by
combining under a single policy a number of contingencies
generally encountered by house holder.
This insurance providers protection for
property and interests of the insured and his family members who permanently reside with the insured.
Generally properties like building household goods, jewellery & valuable
domestic, electric appliances etc.,. are
covered by this policy. This minimum premium under this policy is Rs. 100.
2. PEDAL CYCLE INSURANCE: This insurance is intended to cover loss of a or a
damage to the cycle by fire, lighting , explosion burglary house breaking theft and accident
external means. It also covers the insured’s
legal liability for bodily injury to third parties subject to a
specified limit, say Rs. 15,000 . Any
loss of a or a damage to rubber tyres , lamps, tools and accessories is covered
only if they are lost or damaged in the same accident in which the insured pedal cycle is also damaged. This
policy can be extended to cover personal accident insurance benefits on payment of additional
premium.
3. MOBILE PHONE INSURANCE:
Under this insurance the insurer will
indemnify the insured for the loss of or
a damage to cellular phone by theft, and burglary, fire, explosion , malicious
or accidental damage due to external means, earthquake, flood, storm,
electrical, and mechanical breakdown. On payment of additional premium, the
cover can be extended to indemnify
insured against fradulent use of the
cellular phone, following the physical
loss of damage to the cellular phone, where such loss is total loss for a time
limit of 24 hours, from the time of recording by the cellular operator of first
fradulent call subject to a maximum limit
of Rs. 5,000 for any loss or any series of loss in any one period of insurance. The premium for this extension is
normally charged @ Rs. 50 for any one
period of insurance.
4.
BAGGAGE INSURANCE: This insurance is damaged to cover accompanied baggage during specified journey, which
includes air, sea, rail or travel
undertaken by the insured. The risks
covered are burglary , theft or
damage by accidental means. The route of the journey is specified in the policy
and the cover is operative only when the insured is travelling by an accepted mode of the travel on the
specified route. proposal form should be
fully completed as regards
description contents and value of each
package. Further, if jewellery, valuable
and items listed in the exclusions
clause are to be covered then full description and individual value should be noted.
5.
ALL RISKS INSURANCE: This insurance grant very wide cover in respect of
valuable property and is normally
issued only to very good clients .
Barring a few perils like Earthquake,
War, etc., the cover offers very
comprehensive protection to the insured propertyagainst many perils such a as fire, Riot, & Strike.
Terrorist Activity, burglary house breaking , theft, accidental loss or damage. The following are the special
features of this : (a) The cover is strictly restricted to personal
jewellery ornaments and other such valuable which should be specified and separate value declared against each. (b) Declaration of full value should be a
insisted upon but valued policies should not be a be agreed to. ( C ) All articles should be a sufficiently in detail to permit identification. (d) In
case of jewellery studded with pearls, diamond, or other precious , stones,
valuation certificate of jewellery with number and detailed description of the stone’s should be obtained. (e) furs and similar costly items, personal
belongings can also be included but
articles like fountain pens, spectacles,
clothing musical, instruments, and
silver utensils etc., are not covered under this policy. However if an All Risk
policy holder insists on coverage for clothing silver articles and
the like, this may be agreed to but the policy should be endorsed restricting
the cover on such items to Fire & Theft risks only.
