OTHER INSURANCE

Travel Insurance covers your financial liability, if any, when you travel within or beyond the Indian boundaries. The financial liability may arise due to medical or non-medical emergencies. The duration of the travel for one time can be 180 days at the maximum. The policyholder can take more than one trip in a year.

• MARINE INSURANCE

When goods are shipped to international destinations through the sea, it undergoes several changeovers. It travels by rail, road, water and perhaps airways as well. It also changes many hands before it reaches the final destination. The ship owners take Hull and Machinery insurance to protect the ship’s basic structure and machinery. The cargo owners take marine cargo insurance to protect the consignment under transit. The marine policy may cover specific time-frame or the voyage or both. It is imp to strike the correct balance between adequate coverage and reasonable insurance premium to avail optimum coverage for your cargo.

• FIRE INSURANCE

Fire insurance policies cover the damages caused by fire and other related perils. The policy covers damages suffered by property or specified assets.

Features of fire insurance plans

1. The policy covers the cost of repairs or replacement of the insured asset when it is damaged by fire or related perils
2. There are different types of fire insurance policies like, Valued policy, Floating policy, Specific policy, Comprehensive policy, etc.
3. A fire insurance plan also covers damages suffered due to lightning, floods, storms, cyclones, inundation, impact damage, missile testing operations, etc.
4. If any third-party property is damaged due to fire or other covered perils, the policy would cover such losses too

There are various extensions which are available under fire insurance plans. These extensions come at an additional premium. You can add as many extensions that you like to enhance the coverage.

The property insurance is the insurance that protects the physical goods and the equipment of the business or home against any loss from theft, fire, and any other perils. It can be an all-risk coverage policy that gives protection against all the risks, or it can be named-risk coverage policy that gives protection against only those perils that are specified in the policy document. It may include the homeowner’s policy, renter’s policy, flood insurance, shopkeeper’s policy, office package policy, and earthquake insurance policy. Such policies instead of just covering the risk of the property might also include some of the personal liabilities also. Generally, the property insurance covers the risks of all the damages caused by fire, theft, wind, smoke, snow, lightning, etc, But the property insurance does not cover any damages that are caused by water due to flooding, water seepage, standing water, tsunamis, cyclones, etc. Some of the property insurance covers also exclude the losses due to earthquakes, molds, and the acts of war like terrorism, etc.