We Cover

• Usually this policy is issued to cold storages

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

The Policy will not pay under below scenarios:

• Electrical or mechanical breakdown or boiler explosion
• Replaceable parts like bits knives ropes & bolts chains etc. wear and tear corrosion damage whilst in transit war and nuclear perils.
• When undergoing test or while used for a purpose different from what was originally intended .
• Damage due to accidents to carrying vehicle /train/vessel/and craft.
• Damage to plant&machinery working underground.

Partial loss

Full cost of replacement of parts plus repair charges cost of dismantling and re-erection. Depreciation is applied only for the parts with limited life. If the repair works are undertaken by the insured actual material and labour costs plus a reasonable quantum of overheads is payable. Salvage is deducted. If the suminsured is not adequate policy pays only proportionately.

Total loss

The actual market value of item immediately before the occurrence of loss less salvage and depreciation subject to adequacy of suminsured

This policy shall cover any unforeseen and sudden physical damage to the property by any cause not specially excluded. This policy shall apply to the insured item whether:

• They are at work
• or at rest
• or being dismantled for the purpose of cleaning or overhauling
• or when being shifted within the premises
• or subsequent re-erection