UIIC

Products - Jewellers Block Policy

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Note : A brief snapshot about the policy is given.For complete information refer to policy wordings or visit our nearest branch office.

We Cover

Section I

This section covers loss or damage to property at your business premises or other specified premises where your property is deposited by fire theft riot strike etc

Section II

This section covers property carried/conveyed outside the specified premises for the business purpose of yours by any cause other than the specified exclusions under the policy.

Section III

This section covers loss or damage to property whilst in transit with in India by

Insured Post
Air Freight

Section IV

This section covers loss or damage to office furniture fixtures in the premises covered and safes at specified residence by fire and allied perils house breaking theft riot strike.

Premium Rating

The risks are classified as 3 classes :

Class I - Having 24 hours watchman for the premises employed by you in all listed premises.

Class II - Common watchman for the building or night watchman employed.

Class III - All others.

SECTION I

	Ratio for
Sum Insured	Class I	Class II	Class III
Upto Rs. 25 lakhs	0.25%	0.35%	0.50%
Upto Rs. 50 lakhs for over Rs. 25 lakhs	0.20%	0.30%	0.45%
Above Rs. 50 lakhs and upto Rs. 75 lakhs for the sum over Rs. 50 lakhs	0.175%	0.275%	0.425%
Over Rs. 75 lakhs (on the sum excess of Rs. 75 lakhs)	0.15%	0.25%	0.40%

SECTION II

On the first part of the aggregate of the individual

limits under Section II upto 50% of Section I Sum Insured	0.30%
On the next 25% of Section I Sum Insured	0.40%
On the next 25% of Section I Sum Insured	0.50%

SECTION III

1% on the aggregate Sum Insured under this section.

SECTION IV

0.10% on the Sum Insured

Discounts

Discounts may be allowed in the premium rate for the following:

1. Physical features discount- In case the shop has additional security arrangements like close circuit TV electronic alarms etc then a discount of 5% for each additional feature restricted to a maximum of 10% may be allowed subject to an inspection report of premises by an officer of the company being kept along with the Underwriting papers.
2. Good claims experience discount may be allowed when

Policy is in force for a minimum period of three consecutive years
If average claims experience is less than 50% for the last three years 5 discount may be allowed
Less than 30% 10 discount may be allowed

The policy will not pay :

Loss or damage during cleaning repairing restoring
Property missing at stock taking
Articles in public exhibition
Depreciation wear tear etc
Window display after close of business hours
Earth quake Flood cyclone etc.

Particulars of cover liability and exclusion given above are not complete or exhaustive :
Our nearest Branch Office branch may be approached for complete details.