Advance Loss of ProfitAdvance Loss of Profit

Advance Loss of Profit

  • Introduction
  • What’s covered ?
  • What’s Not covered?
  • Why Choose HDFC ERGO?

Advance Loss of Profit

 

What happens if a project is delayed where your money is invested in anticipation of returns in future? The delay can be due to damage during construction, erection or commissioning phase of project leading to risk of loosing anticipated profit.

HDFC ERGO’s Advance Loss of Profit Insurance assures protection to you against this kind of scenario. ALOP Policy is designed for Principles and it need to be concurrent with Material Damage (MD) Project insurance.

 

What’s Covered?

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Policy covers Principle’s Interest due to:

  • Loss of gross profit actually sustained due to the reduction in turnover and Read More...

What’s not covered?

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Loss or damage covered under Section I of CAR/EAR Policy by way of endorsement, unless it has been specifically agreed in writing.

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Loss of or damage to surrounding property, construction machinery, plant and equipment.

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Loss of or damage to operating media or feedstock, shortage, destruction, deterioration of or damage to any materials necessary for the insured business.

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Any restrictions imposed by a public authority.

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Non-availability of funds

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Alterations, additions, improvements, rectification of defects or faults or elimination of any deficiencies carried out after the occurrence.

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Any loss due to fines or damages for breach of contract, for late or non-completion of orders, or for any penalties.

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Loss of business due to causes such as suspension, lapse or cancellation of a lease, license or order, etc. which occurs after the date of actual commencement of the business.

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Any consequence of war, invasion, act of foreign enemy, hostilities Nuclear reactions, Nuclear radiation or radioactive contamination.

Extensions

Earthquake, volcanic eruption, tsunami.

Sum Insured

The sum insured should be the anticipated Gross Profit (Net Profit + Standing Charges) for the Indemnity Period selected.

Net Profit - Business profit before taxation

Standing Charges include fixed expenses incurred even in the absence of business activity like interest charges, salary & wages.

Premium

Premium depends upon:

  • Nature of project
  • Site location
  • Gross Profit
  • Indemnity Period opted

Excess/ Time Excess

The policy is subject to a compulsory excess.

Why HDFC ERGO?

Secured Over 1 Crore+ Smiles!

Trust redefines relations at HDFC ERGO. We consistently strive to make insurance easier, more affordable and more dependable. Here promises are kept, claims are fulfilled and lives are nurtured with utmost commitment.
Why HDFC ERGO?

All the support you need 24x7

We understand that in times of distress, instant help is the need of the hour. Our In-house claims team provides round the clock support to ensure hassle-free claim experience. We ensure to be your constant support system in times of need.
Why HDFC ERGO?

Catering customer needs

Since, last 16 years, we have been catering to endless customer requirements endlessly. By providing wide range of plans and add on covers for every portfolio.
Why HDFC ERGO?

Transparency at its best

HDFC ERGO General Insurance claims are settled with utmost transparency and ease.
Why HDFC ERGO?

Awards

We have received ICAI Award of the Year for excellence in financial reporting FY:18-19
Why HDFC ERGO?

Secured Over 1 Crore+ Smiles

Trust redefines relations at HDFC ERGO. We consistently strive to make insurance easier, more affordable and more dependable. Here promises are kept, claims are fulfilled and lives are nurtured with utmost commitment.

All the support you need-24x7

We understand that in times of distress, instant help is the need of the hour. Our In-house claims team provides round the clock support to ensure hassle-free claim experience. We ensure to be your constant support system in times of need.

Catering customer needs

Since, last 16 years, we have been catering to endless customer requirements endlessly. By providing wide range of plans and add on covers for every portfolio.

Transparency at its best

HDFC ERGO General Insurance claims are settled with utmost transparency and ease.

Awards

We have received ICAI Award of the Year for excellence in financial reporting FY:18-19
Awards & Recognition
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