1) The due observance and fulfillment of the terms of the Policy, in so far as they relate to anything to be
done or complied with by the Insured, and the truth of the statements and answers in the questionnaire
and proposal made by the Insured shall be a condition precedent to any liability of Insurer.
2) The schedule and the sections (s) shall be deemed to be incorporated in and form part of this Policy and
the expression "this Policy", wherever used in this contract, shall be read as including the Schedule and
the section (s). Any word or expression to which a specific meaning has been attached in any part of this
Policy, or the schedule or of the section (s) shall bear such meaning wherever it may appear.
3) The Insured shall at his own expense take all reasonable precautions and comply with all reasonable
recommendations to prevent loss or damage and comply with statutory requirements and manufacturers'
4) Representatives of the Insurer shall at any reasonable time have the right to inspect and examine the risk
and the Insured shall provide the representatives of the Insurer with all details and information necessary
for the assessment of the risk.
5) The Insured shall immediately notify the Company by facsimile and in writing of any material change in
the risk and cause at his own expense such additional precautions to be taken as circumstances may
require to ensure safe operation of the insured items and the scope of cover and/or premium shall, if
necessary, be adjusted accordingly.
No material alteration shall be made or admitted by the Insured whereby the risk is increased, unless the
continuance of the insurance confirmed in writing by the Insurer.
6) In the event of any occurrence, which might give raise to a claim or likely to raise claim under this Policy,
the Insured shall
a) immediately notify the Company by telephone or facsimile as will as in writing, giving an indication
as to the nature and extent of the loss or damage;
b) take all steps within his power to minimize the extent of the loss or damage;
c) preserve the parts affected and make them available for inspection by a representative or surveyor
of the Insurer;
d) furnish all such information and documentary evidence as the Insurer may require;
e) inform the police authorities in the case of loss or damage due to burglary, looting, vandalism, Riot,
Strike, Terrorism or involvement of third party.
The Insurer shall not in any case be liable for loss, damage or liability of which no notice has been
received by the Insurer within ........ days of its occurrence. Upon notification being given to the Insurer
under this condition, the Insured may carry out repairs or replacement any minor damage: in all other
cases a representative of the Insurer shall have the opportunity of inspecting the loss or damage before
any repairs or alterations are effected.
If a representative of the Insurer does not carry out the inspection within a period of time, which could
be considered adequate under the circumstances, the Insured is entitled to proceed with the repairs or
The liability of the Insurer under this policy in respect of any insured item shall cease if said item is
kept in operation after a claim without being repaired to the satisfaction of the Insurer, or if temporary
repairs are carried out without the Company's consent.
a) The insured can lodge complain to Insurance Board (Beema Samiti) within ......... months as per
'Insurance Act, 1994' with detail description in case of following
(i) If insurer refuses to register the claim intimation or
(ii) If insurer refuses to pay the claim amount or
(iii) If insured thinks that the amount of claim insurer offers to insured is less or
(iv) If insurer pay the claim to other party (other than the policy bearer) or prepares to pay and
(v) In case of any dispute regarding the insurance and claim.
b) Insured can file a case to higher court within ................ days after the decision of Insurance Board in
favour of Insurer or if Insured disagrees to the decision.
a) If the proposal or declaration of the Insured is untrue in any material respect, or if any claim made
is fraudulent or substantially exaggerated, or if any false declaration or statement is made in
support thereof, then this Policy shall be void and the Insurer shall not be liable to make any
b) In the event of the Insurer disclaiming liability in respect of any claim and if an action or suit is not
commenced within .......... days after such disclaimer or (in the case of arbitration taking place in
pursuance of Condition 7 of this Policy) within ........... days after the decision, as per Insurance Act,
1994, has made their award, all benefit under this Policy in respect of such claim shall be forfeited.
9) If at the time any claim arises under this Policy there is any other insurance covering the same loss or
damage, the Insurer shall not be liable to pay or contribute more than their rateable proportion of any
claim for such loss or damage.
10) The Policy may be terminated at the request of the Insured at any time, in which case the Company will
retain the customary short-period rate for the time this Policy has been in force. However, if any claim
has been occurred under the policy during the time this policy has been in force, there would be no
This Policy may equally be terminated at the option of the Insurer by ......... days' notice to that effect
being given to the Insured, in which case the Insurer will be liable to repay on demand a rateable
proportion of the premium for the unexpired term from the date of cancellation.
11) a) If the value of the insured property is less than the sum insured at the time of loss or damage,
insurer will pay the claim after applying condition of average clause for under insurance.
b) If the number of insured assets are more than 1 item, the above provision will be applicable to
12) The policy shall be transferred to the new owner within .......... days of ownership transfer, unless the
insured property pass from the Insured to other person or institution by will or operation of prevailing