Money would be cash, Bank Notes, checks (cheques), and securities for money, stamps, postal and money orders.
This insurance covers loss of Cash from any cause other than the exclusions whilst:
• In safe at the premises.
• Out of safe in working hours at the premises.
• In transit to and from premises and banks.
• Cover can be extended to include material damage to the safe itself.
• Loss occasioned by dishonesty of any of the Insured’s employees.
• Loss of Cash at the Insured’s premises, when the said premises are closed, unless the Cash is kept in a locked safe or strong room.
Business Interruption Insurance
Worse than the loss due to the risk of fire and the damages it may cause as a result, is to be unable to continue doing business after the break of the fire. Although, the business stops due to this calamity, there are certain charges that will independently continue irrespective of the situation that the contributor is placed in. These expenses such as bank interests, employee’s salaries, rent, electricity and other standing charges, will still need attention in addition to the loss of revenue. This results in a loss of gross profits due to reduction in turnover and increased cost of working during the period of interruption. Here you will be able to seek information and request for quotation online.
For Business interruption cover to operate, it is compulsory that there be in place a Property All Risks or Fire insurance policy. This cover takes into consideration the following aspects which should be addressed when opting for this cover, and are:
• Gross Profit.
• Standing Charges.
• Annual Turnover.
• Limit and Period of Indemnity.
This coverage is subject to a time excess e.g. first 7 days of the loss
Plate Glass Insurance
The plate-glass insurance covers accidental breakage of glass while situated at the insured’s premises from any cause other than those specifically excluded in the policy.
Note: This insurance does not cover breakage of glass due to fire or other perils that can be insured under the fire policy.
All Risks Personal Effects
This policy is intended to cover the personal belongings of the Contributor like Travel Baggage, Valuable Paintings displayed at home etc. against accidental loss or damage.
Sum Insured will be the actual market value of the items insured which are clearly specified in the policy schedule.
Fidelity Guarantee Insurance
This insurance policy indemnifies the insured for financial losses sustained by acts of Forgery, Embezzlement, Larceny and/or Fraudulent act committed by the insured’s entrusted named employees, whose names are mentioned in the policy schedule, and up to the agreed limit.