How much Excess to be paid?
Material Damage Claims-Deductibles shall be 5% of the claim amount subject to a minimum of Rs.5 Lakhs and Maximum of Rs. 50 Lakhs.
Business Interruption Claims- Deductibles shall be three days Gross Profit subject to a minimum of Rs. 5 Lakhs and a maximum of Rs. 50 lakhs.
Material Damage Claims- Insured may opt for higher excess for which suitable discounts in premium may be considered ranging from 10% to 25%
Business Interruption Claims- Range for the discounts is from 5% to 25% for opting higher excess.