Policy Wording of Home Insurance(Bajaj allianz Gen.Ins.Co.Ltd.) |
||
SECTION VI:
ELECTRONIC EQUIPMENT |
||
| You can insure your Computer, TV and VCR against all risks of breakdown under this policy :- | ||
| a) | Sum insured is to be on reinstatement value basis | |
| 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 applied depending on the age of item | |
| c) | Depending on the item, a deductible is applicable for every claim | |
| d) | Third party liability arising out of use of TV is also covered under this section | |
| e) | - Please do not insure any item which is more than 10 years old | |
| Note: List of items & their values to be covered are to be provided. | ||
| Exclusion on loss or damage for the following : | ||
| - Manufacturers or suppliers are responsible for - Resulting due to wear and tear, gradual deterioration, Climatic conditions, rust, corrosion and insects - Costs incurred in connection with functional failures due to willful act or gross negligence of the insured - Pre-existing faults within the knowledge of the insured - Any loss due to terrorist activities - The insured shall bear the first 10% or Rs.2,500/- (Whichever is higher) for claim concerning computers - At the first 10% or Rs.500/- (Whichever is higher) for claim concerning any other item of Electronic Equipment - Terrorism Cover Extension can be availed by paying extra premium against terrorist damages |
||