Caters to the requirements of the clients who desire to have all risks in respect of their machinery and/or equipment or any other property covered under a single policy.
Damage or financial loss caused due to fire, lightning, burglary etc. are covered.
- Riot, strike and civil commotion can be covered on payment of additional premium.
- Earthquake, flood sometimes covered on payment of additional premium.
- War & allied perils
- Nuclear risks
- Overloading or strain
- loss or damage occurring whilst being used for racing or pacemaking
- Consequential loss, depreciation, wear & tear or mechanical breakdown
The rate of Premium varies from 1% to 2% of the value of the property to be covered.