Industrial All Risk Insurance PolicyIndustrial All Risk Insurance Policy

Industrial All Risk
Insurance Policy

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

Introduction

This is a Comprehensive Package Policy which provides cover against unforeseen circumstances including accidental damage to the property, which a large industry may face during its operation.

Minor accidents and breakdowns (or theft) may lead to major shutdown or huge expenses. Electronic equipment and machineries are expensive and often involve large sums invested in and across vast areas. Any major shutdown may lead to potential loss of Market Share and this would have long term percussions.

In such a scenario the all encompassing cover provided by HDFC ERGO's Industrial All Risk Insurance, gives your industry the reassurance it needs. A timely help by paying claim would help to resume business at the earliest.

 

What’s Covered?

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The policy covers all risks/perils other than those which are specifically excluded.

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Section I (Material Damage)

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Section II (Business Interruption)

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What's Not Covered?

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Causes excluded

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Property excluded

  • Money, cheques, stamps, bonds, credit cards, bullion,
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Extensions

 
  • Architects’, surveyors’ and consulting engineers’ fees
  • Omissions to insure additions/alterations
  • Temporary removal of stock Clause
  • Debris Removal Clause
  • Escalation Clause
  • Earthquake
  • Act of terrorism
  • Other extensions are available under relevant sections.

Sum Insured

The Sum Insured for Section I (Material Damage) relating to buildings, machinery, furniture, fixtures, fittings and electrical installations shall be on Reinstatement Value basis only, while stocks shall be covered on Market Value basis.

The Sum Insured for machinery breakdown risk should be the same as the Sum Insured of plant and machinery declared under fire, less the value towards piping and cabling.

The Sum Insured for Section II (Business Interruption) based on Annual Gross Profit and Indemnity Period selected.

Indemnity Period i.e. the maximum period during which the business may remain interrupted, can be chosen by the insured depending on the activities involved.

Eligibility

All industrial risks (other than risks rateable under the Petrochemical Tariff) with an overall Sum Insured of Rs. 100 Crores and above in one or more locations in India shall be eligible for the Industrial All Risk Policy.

Premium

The premium will depend on the type of cover opted, claims experience, risk exposures, fire protection systems available, maintenance practices and deductible opted under the policy.

Excess

The policy is subject to a compulsory deductible and will depend upon the sum insured.

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 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 the ICAI Award of the Year and excellence in financial reporting for the year 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 for every portfolio.

Transparency at its best

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

Awards

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