The policy covers loss or damage of valuable and portable articles in homes, offices and on persons against all risks except those which are specifically excluded in the policy. The policy covers against losses or damage caused by:
- Riot and Strike
- From any fortuitous cause
FICO will pay compensation to the Insured to the extent of the intrinsic value of the property and valuables of the Insured or member(s) of his family so lost, destroyed or damaged.
The Company shall not be liable in respect of:
- Damage caused by any process of cleaning, dyeing or bleaching, restoring, repairing or renovation or deterioration arising from wear and tear, moth, vermin, insects or mildew or any other gradually operating clause.
- Breakage, Cracking or Scratching of Crockery, Glass, Cameras, Binoculars, Lenses, Sculptures, Curios, Pictures, Musical Instruments, Sports Gear, and similar articles of brittle or fragile nature, unless caused by fire or accident to the means of conveyance.
- Loss or damage caused by mechanical or electrical derangement/breakdown of any article unless caused by accidental external means.
How to claim
If an event giving rise to or likely to give rise to a claim under the policy comes to the insured’s knowledge, s/he shall immediately (within 24 hours) notify the insurer and within 14 days:
- Immediately notify the insurance company by phone, email, fax or in writing.
- Submit a Claim Form duly filled in to the insurance company.
- Give the insurer particulars of any other insurance covering the same event.
- Give the insurer written details of any claim.
- Give the insurer such proof, information and sworn declarations it may require from time to time and forward to the insurer immediately any document or details of any communication received in connection with a claim.
- In the case of theft give immediate notice to the police and take any other practicable steps to discover the thieves and recover any missing property.
- Take immediate steps to minimize the loss and ensure that all rights against any party who may be responsible for the loss are preserved.
The Insured shall tender to the insurance company all reasonable information, assistance and proofs in connection with any claim hereunder and shall, if required, make an Affidavit or Statutory declaration in substantiation of such claim.
Note: Policy details given are indicative, not exhaustive. Please contact your nearest FICO office for further details.