What important things you must bear in mind?
- A minimum of 5 out of the 1 2 Sections have to be covered.
- There is a provision for an attractive discount on the premium if 6 or more Sections are covered by you.
- In respect of Sections 1,2,4,5,6, and 7, 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 only to "Other Contents" of Sections 1 and 2.
- Apart from a few sub-limits on specific items, there are no maximum limits specified for Sum Insured under any Section of the Policy.
- In the case at the time of damage, the value of the property is greater than the Sum Insured opted by you, then the claim would be paid in the same proportion. This is applicable to Sections 1, 2,4,5,6 and 7.