Policy Wording of Home Insurance(Bajaj allianz Gen.Ins.Co.Ltd.) |
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SECTION V:
DOMESTIC APPLIANCES |
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| Breakdown of any domestic appliance or equipment can hinder in the running of your day to day life. This policy covers the following :- | ||
| a) | Air conditioners; refrigerators can be covered against, accidental electrical or mechanical breakdown. The list and values of items to be covered should be indicated | |
| b) | Losses, which can be repaired, will be settled by paying the repair cost without applying any depreciation. For total losses, depreciation, at the rate of 10% per year up to a maximum of 50% will be applied depending on the age of the item | |
| c) | Items more than 10 years old will not be insured | |
| Exclusion on loss or damage for the following: | ||
| - Willful act or gross negligence of the insured | ||
| - For which manufacturer or supplier is responsible | ||
| - Caused due to wear and tear | ||
| - Mobile phones or similar communication devices The insured shall bear 1% of the sub-limit of the Sum Assured, against the Domestic Appliance, or Rs.50/-, whichever is higher, in respect of every claim | ||