Insurance Policy
Insured Value: Rs. 50,000/- estimated premium of Rs. 625/- + 18% GST.
This policy provides coverage for electronic equipment against accidental damages. The coverage includes but is not limited to:
- Fire, Lightning, Explosion/Implosion
- Aircraft Damage
- Riot, Strike, Malicious and Terrorism Damage
- Storm, Cyclone, Typhoon, Tempest, Hurricane, Tornado
- Flood and Inundation
- Impact Damage
- Subsidence, Land slide, Rock slide
- Bursting and/or overflowing of Water Tanks, Apparatus and Pipes
- Missile Testing operations
- Leakage from Automatic Sprinkler Installations
- Bush Fire (Fire & Allied Perils)
- Electrical & Mechanical Breakdowns
- Burglary & Theft
- Negligence, Lack of Skill, Carelessness
The coverage is for unforeseen and sudden physical loss or damage from any cause, which requires repair or replacement, except for specific exclusions mentioned in subsequent paragraphs.
Important Information:
WARRANTY:
- A Preventive Maintenance Agreement must be in force for all electronic equipment with a sum insured exceeding Rs.1.0 Lakh during the policy period
- No changes to the terms of the Preventive Maintenance Agreement are allowed without written consent from the company.
- Maintenance’ includes safety checks, preventive maintenance, and rectification of loss or damage arising from normal operation and aging.
- The Warranty for the ‘Maintenance Agreement’ can be waived by paying an additional premium.
- The warranty relating to the ‘Maintenance Agreement’ with equipment manufacturers can be deleted for all electronic equipment (except ‘Medical equipment’) if there is a competent ‘In-House’ maintenance facility available.
Please note that this is a brief summary of the insurance policy. For detailed terms, conditions, and exclusions, please refer to the policy documents.