standard fire and special perils policy add on covers
DESCRIPTION
Presentation on Standard Fire and Special Peril Policy inclusion and add on covers with real gif animated images.TRANSCRIPT
ADD-ON COVERS STANDARD FIRE AND SPECIAL PERIL POLICY
CONTENT LAYOUT
Over View of SFSP policyPerils Included In SFSPAdd on Perils In SFSP
STANDARD FIRE AND SPECIAL PERILS POLICYThe Standard Fire & Special Perils (SFSP) Insurance, designed to cover loss or damage to Buildings, Plant & Machinery, Tools, Instruments and accessories, Furniture, Fixtures and Fittings, Electrical Installations, Stocks in trade including work in progress, etc due to Fire and Act of God perils..
PERILS INCLUDED IN SFSP
FIRE….
PERILS INCLUDED IN SFSP
Lightening….
PERILS INCLUDED IN SFSP
Explosion
PERILS INCLUDED IN SFSP
Implosion
PERILS INCLUDED IN SFSPAircraft Damage
PERILS INCLUDED IN SFSPRIOT DAMAGE
PERILS INCLUDED IN SFSPSTFI( Storm Tempest Flood Inundation)
PERILS INCLUDED IN SFSPIMPACT DAMAGE
PERILS INCLUDED IN SFSP
Subsidence and Land Slide
PERILS INCLUDED IN SFSP
Bursting , Water overflowing tank.
PERILS INCLUDED IN SFSPLeakage Of Automatic Sprinkler
PERILS INCLUDED IN SFSP
Bush Fire
ADD-ON PERILS COVERS IN SFSP1. Deterioration Of
Stock in cold storage premises due to power failure or by any insured peril
DETERIORATION OF STOCK IN COLD STORAGE PREMISES DUE TO POWER FAILURE OR BY ANY INSURED PERIL
(A) Deterioration of Stocks in Cold Storage premises due to accidental power failure consequent to damage at the premises of Power Station due to an insured peril
25% of Policy Rate
Sum insured of stocks
(B) Deterioration of stocks in cold storage premises due to change in temperature arising out of loss or damage to the cold storage machinery(ies) in the Insured’s premises due to operation of insured peril.
Policy Rate Sum insured of stocks
ADD-ON PERILS COVERS IN SFSP
3. Impact Damage due to insured own vehicle, fork lift and like article.
Impact Damage due to Insured’s own Rail/Road Vehicles, Fork lifts, Cranes, Stackers and the like and articles dropped therefrom.
5% of Policy Rate
Policy Sum insured
ADD-ON PERILS COVERS IN SFSP
4. Spontaneous Combustion
Spontaneous CombustionCategory I goodsCategory II goodsCategory III goodsCategory IV goods
Rs.0.25%o
Rs.0.50%o
Rs.0.75%o
Rs.1.00%o
Sum insured of relative commodity
ADD-ON PERILS COVERS IN SFSP
5. Omission to insure addition, alteration and extension.
Omission to
Insure
additions,
alteration or
extensions
Policy Rate
5% of sum insured of BMA
ADD-ON PERILS COVERS IN SFSP
6. Earthquake (Fire and Shock)
Earthquake (Fire and Shock)Zone IZone IIZone IIIZone IV
Rs.1.00%oRs.0.50%oRs.0.20%oRs.0.10%o
Policy sum Insured
Note :- Dwelling, offices, hotels, shops etc rateable under Section III of the tariff can be covered by charging a uniform rate of Re 0.10%0 regardless of the zones
ADD-ON PERILS COVERS IN SFSP
7. Spoilage Material Cover
Spoilage Material Damage Cover
Stocks in specified blocks5 times the Policy Rate Machinery, Containers & Equipments in specified blocks2.5 times the Policy Rate
Value of stocks in specified blocks M/A value in specified blocks.
ADD-ON PERILS COVERS IN SFSP
8. Leakage and Contamination CoverLeakage And Contamination CoverWhere the tanks are within the Insured’s own premises
Where the tanks are located elsewhere
Leakage Cover only Rs.5%o Rs.6%o
Leakage & Contamination Rs.10%o Rs.12%o
Specified sum insured
ADD-ON PERILS COVERS IN SFSP
9. Temporary Removal of Stocks
Temporary
Removal of
Stocks
Clause
10% of policy Rate
Policy sum insured
ADD-ON EXPENSES COVERS IN SFSP
1. Architects, Surveyor and Consulting Engineers Fees.
Add-On Cover Rates applicable
Value on which premium has to be charged
Architects, Surveyors and Consulting Engineers Fees ( in excess of 3% claim amount)
Policy Rate
Specified sum insured not exceeding 7.5% of claim amount
ADD-ON EXPENSES COVERS IN SFSP
2. Debris Removals
Removal of Debris (in excess of 1% claim amount)
Policy Rate
Specified sum insured upto maximum 10% of sum insured
ADD-ON EXPENSES COVERS IN SFSP
3. Loss of Rent
Loss Of Rent clause Policy Rate
Specified sum insured
ADD-ON EXPENSES COVERS IN SFSP
4. Insurance of additional expenses of rent for alternatives accommodation.
Policy Rate
Specified sum insured
ADD-ON EXPENSES COVERS IN SFSP
5. Startup Expenses.
Start up
Expenses
Policy Rate
Specified sum insured
THANKS A LOT.