Property All Risks Insurance
Cover loss of or damage to the Property Insured caused by fire, lightning, windstorm, vehicle impact, smoke, aircraft, flood, water damage, bushfire, earthquake, explosion, riot and strike and others accidental damage cause not specifies excluded under the Property All Risks policy.
- Building (excluding foundation)
- Furniture, fixtures, fittings, office equipment
- Machinery
- Stock of law material, finish good
Excluded Causes
This policy does not cover :
1. Damage to the property insured caused by :
- Faulty or defective design, materials or workmanship, inherent vice
- Collapse or cracking of buildings
- Corrosion, rust, rot, loss of weight
- Theft except from a building and then only if there is violent or forcible entry to or exit from such building.
- Acts of fraud or dishonesty to the Insured or property insured,
- Disappearance, unexplained or inventory shortage
- Cracking, fracturing, collapse or overheating of boilers, economisers
- Bursting, overflowing, discharging or leaking of water tanks, apparatus or pipes when the premises are empty or disused
- Coastal or river erosion
- Subsidence, ground heave or landslip
- Normal settlement of bedding–down of new structures
- Wind, rain, hail, frost, snow, flood, sand, or dust to movable property in the open or in open sided buildings or to fences and gates
2. Damange caused by or arising from :
- Any wilful act or wilful negligence on the part of the Insured or any person acting on his behalf,
- Cessation of work, delay or loss of market or any other consequential or indirect loss of any kind or description whatsoever
- War, terrorism, revolution, military or usurped power, riot and strike.
- Contamination by radioactivity, nuclear fuel.
- Confiscation, nationalization, commandeering or requisition by any lawfully constituted authority.
The destruction of property by order of any public authority.
This Policy does not cover :
- Money, cheques, stamps, bonds, credit cards, securities of any description, jewellery, precious stones, furs, rare books or works of art ( unless specifically mentioned as insured by this Policy )
- Fixed glass, glass, china, earthenware, marble or other fragile or brittle objects
- Electronic installations, computers and electronic data processing equipment
- Vehicles licensed for road use (including accessories thereon)
- Property in transit other than within the premises specified in the Schedule
- Property or structures in course of demolition, construction or erection and materials or supplies in connection therewith.
- Land (including top–soil, back–fill, drainage or culverts), driveways, pavements, roads, runways, railway lines, dams, reservoirs, canals, rigs, wells, pipelines, tunnel, bridges, docks, piers, jetties, excavations, wharves, mining property, underground, off – shore property,
- Livestock, growing corps or trees
- Property damaged as a result of its undergoing any process
- Plant, machinery or equipment during installation, removal or re–siting (including dismantling and re–erection)
- Property undergoing alteration, repair, testing, installation or servicing
- Property more specifically insured
- Damage to property which at the time of the happening of such Damage is insured by or would, but for the existence of this Policy, be insured by any marine policy or policies except in respect of any excess beyond the amount which would have been payable under the marine policy or policies had this insurance not been effected.
- Damage to boilers, economisers, turbines or other vessels, machinery or apparatus in which pressure is used, or their contents, resulting from their explosion or rupture.
