It mainly comprises of material value in the form of tangible assets. Since tangible property has a physical shape and consistency, it is subject to many risks ranging from fire, allied perils to theft and robbery. But if a person judiciously invests in insurance for his property prior to any unexpected contingency then he will be suitably compensated for his loss as soon as the extent of damage is ascertained.
- Fire Insurance Cover
- Corporate Fleet.
- All Risk Cover.
Fire Insurance Cover
- Standard Fire and Special Perils - Perils insured are fire, lightning, explosion / implosion, impact damage, aircraft impact, bursting / overflowing of water tanks / pipes / apparatus, sprinkler leakage, storm, cyclone, typhoon, hurricane, tempest, tornado, flood, inundation, subsidence, landslide (including rock slide), riots, strikes, malicious damage, missile testing operations. Additionally with options to insure Earthquake and Terrorism risks and a host of extensions including Insurance of rent.
- Consequential Loss - Covers loss of profits of a business due to reduction in the turnover caused by a loss or damage that is covered in the Standard Fire Policy. This insurance includes cover for Increased Cost of Working following the loss, as well as the Standing Charges of the business
- Machinery Break Down - This policy covers for physical loss or damage to machinery and equipment against unforeseen and sudden physical loss of, or damage to the insured items, necessitating their repair or replacement, other than specified excluded perils.
- Boiler and Pressure Plant- The Boiler And Pressure Plant Insurance policy provides coverage for all types of boilers and / or other pressure plants. This policy covers sudden / accidental explosion and collapse risks to insured boilers / pressure plants. This policy also includes insured's own surrounding property and third party liability coverage, arising out of a sudden and unforeseen physical loss of, or damage due to explosion or collapse of the boiler and / or pressure plant.
- Electronic Equipment Insurance - The Electronic Equipment Insurance policy provides comprehensive coverage for electronic equipment. This policy can be extended to include additional costs the insured shall incur to ensure continued data processing on substitute equipment if such costs arise as an unavoidable consequence, of an indefinable loss or damage, during the period of insurance, to property insured under the material damage section of the policy.
- Business Interruption Losses - This Policy broadly covers the risk of accidental physical loss or damage in respect of the contract works, during the execution of a civil project. CAR insurance provides an ‘all risk ‘cover.Cover intercepts from the commencement of work or after unloading of first consignment at project site, whichever is earlier and terminates on handing over of works to the principal or expiry of policy, whichever is earlier.
- Erection All Risk - This policy covers risks associated with storage, assembly/erection and testing of Plant and Machinery. EAR insurance provides comprehensive cover. All perils are covered unless specifically excluded. Cover incepts from the time of unloading of the first consignment at the project site and terminates on completion of testing or handing over of the project to the Principal, or the period chosen, whichever is earlier.
- Contractors Plant and Machinery - This Policy broadly covers loss or damage to the contractor’s property due to any cause that is accidental and external in nature. Cover operates when the insured property is at work or at rest or being dismantled for the purpose of cleaning/overhauling or during subsequent re-erection.
- Contractor All Risk - This Policy broadly covers the risk of accidental physical loss or damage in respect of the contract works, during the execution of a civil project. CAR insurance provides an ‘all risk ‘cover. All perils are covered unless specifically excluded. Cover incepts from the commencement of work or after unloading of first consignment at project site, whichever is earlier and terminates on handing over of works to the principal or expiry of policy, whichever is earlier.
- Corporate Fleet - Management of insurance of the fleet of vehicles owned by companies is a task in itself, which requires investment of good time and effort.
- All Risk Cover - Insures the risk of accidental damage to portable equipment such as laptops and other electronic devices, test and measuring instruments, etc. at any location and including whilst in transit in the personal custody of the employees of the business.