Industry Protector Insurance

Single package policy to cover you against almost all risks

Industry Protector Insurance

IFFCO-Tokio's Industry Protector is just the right kind of Policy to provide protection against uncertainties.

The policy is suitable for industrial, manufacturing and storage units in the SME sector.

Offers cover for your industrial assets, interests, liability as well as for your personal self, directors, partners, and employees.

The policy covers unit against almost all risks that a unit may normally encounter while carrying out business.

The policy has 10 Sections that provide comprehensive protection.

On payment of nominal extra premium, Personal Accident Insurance Policy can be extended

A minimum of 4 out of the 10 sections have to be covered.

There is a provision for a premium discount if 5 or more Sections are covered by you.

It is just the right kind of Policy to provide protection against uncertainties.

What it covers?
Exclusions

What it covers?

Our Industry Protector Policy gives a complete protection to your industrial unit against a wide range of risks and perils. By opting for this single package Policy, your unit will be covered against almost all risks that you may normally encounter while carrying out your business. This Policy has 10 Sections that provide comprehensive protection for your industrial assets, interests, liability as well as for your personal self, your directors, partners, and employees.

Fire and Allied Perils (Section 1).
The following can be covered on payment of extra premium:
Terrorism.
Earthquake (Fire and Shock).
Burglary and other Perils (Section 2).
Machinery Breakdown (Section 3A).
Boiler and Pressure Plant (Section 3B).
Electronic Equipment (Section 4).
Portable Computer and Mobile Equipments (Section 5).
Money (Section 6).
Fidelity Guarantee (Section7).
Personal Accident (Section 8).
Business Interruption (Section 9).
Liability (Section 10 A/B).

Exclusions

Damage as a consequence of war, invasion, act of foreign enemy, hostilities (whether war be declared or not), civil war, rebellion, revolution, etc.
Any damage due to confiscation, commandeering, requisition or destruction by order of any government or lawfully constituted authority.
Any damage directly or indirectly caused by or contributed to or arising from ionizing radiation or contamination by radioactivity.
Damage to property and contents due to pollution of any kind.
Besides these, there are some other Exclusions that are specific to particular Sections of the Policy.

FAQs

When will the Policy not pay?

Some of the important Exclusions under the Policy are as follows:

Damage as a consequence of war, invasion, the act of a foreign enemy, hostilities (whether war be declared or not), civil war, rebellion, revolution, etc.
Any damage due to confiscation, commandeering, requisition or destruction by order of any government or lawfully constituted authority.
Any damage directly or indirectly caused by or contributed to or arising from ionizing radiation or contamination by radioactivity.
Damage to property and contents due to pollution of any kind.
Besides these, there are some other Exclusions that are specific to particular Sections of the Policy.

What important things you must bear in mind

On payment of nominal extra premium, our Personal Accident Insurance Policy can also be extended to provide a whole range of additional coverages.

A minimum of 4 out of the 10 sections have to be covered.
There is a provision for a premium discount if 5 or more Sections are covered by you.
In respect of sections 1,2,3,4 and 5, the insurance is on a Reinstatement Value basis(i.e. new for old) for which the Sum Insured should represent the value of the new property including freight, duties, etc. This does not apply to "Stock" and "Any other items" of Section 1 and 2 which should be covered at Market value.

The maximum limit of Sum Insured for the various Section under this Policy will be as under:

Section 1 Rs. 50 crores.
Section 2 Rs. 50 crores.
Section 3A Rs. 20 crores.
Section 3B Rs. 20 crores.
Section 4 Rs.20 crores.
Section 5 Rs. 1 crore.
Section 6 Rs.5 crores (Safe) and Rs. 1 crore. (Transit)
Section 7 Rs. 1 crores.
Section 8 Rs. 25 lacs. (per person)
Section 9 Rs. 50 crores.
Section 10A Rs. 2 crores

* The maximum limit for the combined / total Sum Insured for Section 1 and 9 will be Rs. 50 crores.

Who can apply for this Policy?

This policy is suitable for industrial, manufacturing and storage units in the SME sector who wish to take comprehensive insurance protection under one package policy.

Why to buy Industry Protector Insurance?

Your industrial unit on which so much of your time and money have been spent to build up is constantly exposed to various kinds of risks. Some unfortunate occurrence might bring a huge financial burden to your business and you although cannot guard your business from all possible risks, you can at the least take steps to help tide over such unexpected events.

IFFCO-Tokio General Insurance's Industry Protector is just the right kind of Policy to provide protection against these uncertainties.

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Industry Protector Insurance