As the name entails, the policy covers every conceivable risk of loss or damage to the insured. The All Risk policy provides cover for personal effects and valuables like, cameras, handsets, jewelleries, wristwatches, laptops, binoculars etc.
Loss, damage or expense proximately caused by delay or inherent vice or natures of the goods insured are some of the exclusions.
The policy provides cover against loss or damage to property arising from Burglary and Housebreaking accomplished by entry or exit by actual forcible and violent means. The cover could either be for Private or Business Premises.
Private: This covers the insured’s household goods and personal effects and those of his domestic servants and people temporarily residing with him against the risk described above, it does not cover the risk of larceny.
Business Premises: The same risk described above is covered under this policy but in respect of stock-in-trade, the property of the insured or those held in trust or on commission. It also covers damage to furniture and fittings belonging to the insured. The policy excludes the risk of larceny or embezzlement by employees.
Personal Accident insurance covers personal bodily injury or death resulting from an accident. When issued to a collection of people belonging to a club, organization or employees of a company it is refer to as Group Personal Accident Insurance.
The policy is designed to provide compensation to the insured persons [or representatives] following an accident that result into Death, Permanent Disability, Temporary Total Disability and Medical Expenses. The policy is extended on request to cover repatriation expenses where it is necessary for an injured insured person to be flown abroad for medical treatment.
The cover provided is on 24 hour basis and operates anywhere in the world. The insured person or employer is usually given the option to choose the level of benefit required for the various categories of employees it intends to cover. The benefit could be arranged as follows:
- Death Benefit:This could be a fixed amount or a multiple of annual wages paid to employees.
- Permanent Disability:This again could be a fixed amount or a multiple of annual wages paid to employees.
- Temporary Total Disability: This is a benefit paid to employers who have arranged such a cover for their employees. It could be the exact weekly wages paid to the employees concerned or a proportion thereof.
- Medical Expenses:This is payment for expenses incurred in offering medical treatment to insured person for injury from an accident. The monetary limit of the benefit is that selected by the insured person at inception of the policy.
These are cars used for private and domestic purposes. They could either be a Saloon car, Wagon or Jeep.
These are vehicles use by the insured for his business purpose. They could fall under the following categories;
Own Goods: Vehicles used by the insured for his private business only and the carriage of goods belonging to the insured and his business.
General Cartage: These are vehicles used solely by the insured for the running of his business and for commercial activities like carriage of goods for reward.
Fare paying/non-faring passenger vehicle: These are vehicles used in carrying passengers from one destination to another either for the payment of fare or none. Luxurious buses, taxis fall under these categories.
This must be motorcycle used in the running of the insured business like dispatch rider or vendor of goods. Passenger carrying cycle is excluded.
TYPES OF COVER
There are four different types of cover available under motor policy, these are:
It provides cover for the insured vehicle against the following:
- Accidental damage to the vehicle
- Loss of or damage to the insured vehicle by fire or theft
- Malicious damage to the vehicle
- Insured’s legal liability to third parties in respect of any damages to the property of such third parties and for any injury or death to the third parties arising from the use of the motor vehicle
Fire & Special Perils
The standard fire policy is designed to cover or protect the insured property such as building and contents of every description against fire, lightning and explosion. The insured property could be private or commercial, owned or held in trust or on commission.
The standard fire policy can be extended through the payment of an additional premium to cover special perils such as flood, water damage, tempest, storm, tornado, hurricane, cyclone, typhoon, explosion, impact, riot, strike & civil commotion, malicious damage, bush fire, burst pipe, subsidence, spontaneous combustion, earthquake etc.
TravelGuardPlus is an international travel insurance policy which provides cover for overseas travel against travel risk contingencies. The policy gives full cover against a wide range of risk exposures during foreign trips and it comes in three different plans:
- The Travel Protect plan
- The Student plan
- Pilgrimage Plan.
Each of these plans has different benefits which at the minimum meets the requirement of insurance cover for visa application to European countries.
Features & Benefits of TravelGuardplus
- Cost Effectiveness.
- Accepted by foreign embassies as a requirement for issuance of Entry visa
- Prompt response in case of medical emergency
- Supported by an A rated global insurer with the largest assistance network in the world with over 31,000 international points of service spread across over 30 countries and more than 2,000 multilingual operators.
- Prompt settlement of claims
- Wide acceptance by hospitals
- Discounts for Group packages under the Pilgrimage; Students or other group travels
- Beyond the requirement for visa application, it also provide cover for other travel related contingencies like Loss of Baggage, Travel delays etc