Property All Risks Insurance

Cover all risk of loss

(except for only a few risks listed in the exceptions)

PAR / IAR is the most popular type of insurance compared to other types of insurance, because it covers all risks of loss except for a few risks which are listed in the exceptions.

 

Property All Risks (PAR) insurance coverage includes:

• Guarantee for Riots, Strikes, Civil Commotion

• Coverage for Hurricane, Storm, Flood and Water Damage

• Guarantee for Earthquakes, Volcanic Eruptions and Tsunamis

• Guarantee for Landslides and Soil Movement

 

Exception

• War, terrorism, nuclear and radioactive

• Delays, loss of market share or business interruptions

• Deliberate, dishonest employees

• Mechanical and boiler breakdown

• Wear, corrosion, the nature of the item itself

• Pollution or contamination

 

 

Unsecured property

• Property that is being worked on or under construction

• Property in transportation, motorized vehicles, ships, airplanes

• Jewelry, precious stones, works of art

• Trees, plants, animals, birds, fish

• Land, roads, rails, rigs, pipe bridges

 

Additional Benefit (Clause)

• All Other Contents (content or other equipment)

• Average Relief (85%) - ( Coverage under price)

• Architects, Surveyors and Consulting Engineers (Cost of Architects, Surveyors and Consultants)

• Capital addition (10% of TSI) - ( Capital addition)

• Civil Authorities (Magistrate)

• Claims Preparation (Claims Processing Fee)

• Fire Brigades Charges (Fire Brigades Fee)

• Fire Extinguishing Costs (Cost of Fire)

• Impact by own vehicle (collision by the vehicle itself)

• Internal Removal (Internal Displacement)

• Outbuilding (Additional building)

• Public Authorities (Public Officers)

• Removal of Debris (The cost of debris removal)

• Reinstatement value (cost of recovery)

• Temporary Removal (temporary relocation)