What are some of the important points to remember about the policy?

Following are a few key points that you must note regarding the importance of the sections mentioned above: -

• Out of the twelve sections mentioned above, you must subscribe to coverage of at least five.
• Regarding Section 1 to 7, the coverage is on the reinstatement value basis wherein the sum insured should represent the value of the newly purchased item of same or similar quality. It should include the cost of freight as well as applicable taxes. This is not applicable to clothing and linen items from Section 1 and 2.
• There is no maximum limit specified for sum insured under any section of the policy. Though there are few specific sub-limits, for which you must refer to the policy document.
• Regarding Section 1 to 7, if the value of the property is more than the sum insured during the time the damage occurred, then your claim would be reimbursed in the same proportion.