Untitled Document
|
Diamantaires Insurance
This policy is essential for all diamantaires, keeping in mind the
specific requirements of their trade. |
|
What can be Insured
This policy provides cover against any loss or
damage
- To property by fire, explosion,
riot or strike, malicious damage, burglary, house-breaking,
theft, robbery or hold-up or being carried,
conveyed, distributed outside specified premises for the
purpose of business.
- To furniture, fixtures and fittings
as well as other business appliances inside the premises.
|
Risks covered
This policy has 4 separate sections
-
Section I
Covers loss or damage to property contained within the premises
where the insured's property is deposited against the risks of fire,
explosion, riot or strike, malicious damage, burglary, housebreaking,
theft, robbery and hold-up risks only.
-
Section II
Covers loss or damage to property insured while in
the custody of the insured's partners and/ or employees.
-
Section III
Property insured, excluding cash and currency notes in transit
within India by air-freight or local couriers.
-
Section IV
Loss or damage to furniture, fixtures and fittings
from fire, explosion, lightning, riot or strike, malicious damage,
robbery
and hold-up risks only.
|
Compensation Offered
This policy provides compensation based on the classification of
the diamantaire, either less than Rs.25 lakhs or above Rs.25 lakhs.
For a Capital Sum Insured above Rs.25 lakhs, it is a prerequisite
that after business hours, the stock must be stored in a burglar-proof
safe.
If the stock value is above Rs.10 crores, the stock must be stored
in different safes to minimise the chances of loss as far as possible.
It is also essential to take Fidelity Guarantee Cover for all the
employees of the diamantaire.
|
Exclusions -
This policy will not pay any
compensation if the claim has arisen from
-
Any loss or damage to
the property while it is being worked on or from any process of
cleaning, repairing or restoring.
-
Any loss or damage to the property
while it is being worn or used by the insured, his representatives
or his relatives.
-
Any loss or damage to the property while it is
displayed in a public exhibition.
-
Any loss due to theft or missing from property stored in an unattended
road vehicle.
-
Any loss or damage to the property arising from depreciation,
gradual deterioration, wear and tear, etc.
-
Any loss or damage to
fragile items.
-
Any loss or damage to the property owing to a dishonest
act of the insured's employee or family member or person entrusted
with
the property.
|
|
|
