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In considering the cash carrying limits in a money policy, the following need to be appreciated:The definition of money in the policy. (All components as used in the definition, need to be considered). Some Insurers may offer cover for foreign exchange too.)The money in transit cover is available only for...

Reinstatement value is the cost to build or restore the asset to its original state or condition. Standard fire and special perils policy usually come with a reinstatement value clause. The reinstatement value clause defines the methodology of claim settlement in case of damage to the assets like building, machinery...

A Standard Fire and Special Perils Policy cover several perils like:FireLightningExplosion/ImplosionAircraft DamageRiot, Strike, Malicious DamageStorm, Typhoon, Hurricane, Tornado, Flood and InundationImpact damageSubsidence and landslide including Rock slideBursting and overflowing of water tanks, apparatus and PipesMissile testing operationsLeakage from Automatic Sprinkler InstallationBush FireMore protection can be gained in the policy by...

Spontaneous combustion happens when an organic matter catches fire due to its own internal source. In combustion, fuel gets oxidized due to light and heat in its surrounding. For example – agriculture produce can set itself on fire due to certain hot weather condition. Coal is another product which itself...

The train tragedy in Odisha on Friday has made travel insurance more crucial than ever. It should be noted that travelers have the option to choose a travel insurance policy when purchasing train tickets through the Indian Railway Catering and Tourism Corporation (IRCTC) website or mobile app.  10 things you...