The policy covers Deterioration of Stocks in refrigerated cold rooms/chambers following an incident, which gives rise to a claim under the underlying Machinery Insurance Policy. Therefore, availability of a Machinery Insurance policy is a pre-condition for Deterioration of Stocks Insurance.
In addition to Monetary Excess, the policy is usually subject to Time Excess.
For more details on Engineering Insurance, please do not hesitate to e-mail Mr. Pothen Abraham, or call 04-2531549.
The scope of cover is like the Contractor’s All Risks Insurance but specifically designed for Erection/Installation projects, where the values of the Plant/Equipment dominates the Contract Value.
For more details on Engineering Insurance, please do not hesitate to e-mail Mr. Pothen Abraham, or call 04-2531549.
The policy covers loss or damage to insured static Plant & Machinery against sudden, accidental and unforeseen physical loss or damage including mechanical/electrical breakdown.
It is a condition under the policy that Sums Insured declared should represent the New Replacement Values and that there shall be a satisfactory Maintenance Programme throughout the period of Insurance.
For more details on Engineering Insurance, please do not hesitate to e-mail Mr. Pothen Abraham, or call 04-2531549.
The cover provided under the policy is usually granted after a satisfactory Risk Inspection and is made subject to a specified deductible for each water damage claim. Among the main exclusions, the policy specifically excludes Water Damage to Property in the open or open-sided buildings.
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