Property All Risk

Property all risk

 This Insurance is designed to cover your properties against loss or damage caused by any accident or misfortune unless specifically excluded in the Policy.

The property to be insured may consist of the following physical assets:
> Building
> Furniture, fixtures and fittings
> Plant and equipment
> Office equipment
> Stock in trade from raw materials to finished products

Key Benefits

Risk engineering:
AXA offers risk engineering, loss prevention and sophisticated risk management consultancy services to clients

Competitive pricing:
AXA has a competitive pricing to give your business maximum value for money, rewarding your good claims experience

Standard cover:
AXA's standard cover can be combined with a complete set of optional extensions specific to your activity

Product Details

Property “All Risk” Insurance provides comprehensive protection including fire, lightning, storm, hurricane, earthquake, volcanic eruption, flood, impact damage, etc other than those few mentioned as ‘exclusions’ under the policy.

The sum insured may be either on the basis of the actual value or the new replacement value of the property.

The policy is usually issued on an Annual basis.

Possible extensions/alternate solutions

Extensions are available for enhancing the covers in terms of additional exposures, costs and expenses consequent to a loss. Some of the important ones are listed below:
> Architects fee
> Debris removal expenses
> Capital addition of assets
> Temporary removal of property
> Cover on reinstatement value (new for old) basis for property other
   than stock
> Periodical declaration facility of stock sum insured

Exclusions

Some of the important exclusions are losses directly or indirectly resulting from
> Electrical or mechanical breakdown
> Deterioration of property due to change in temperature
> Subsidence ground heave landslip
> Consequential loss (unless specifically included)
> Contamination pollution wear and tear
> Property in course of manufacture construction erection
> War and Terrorism Nuclear weapons material