Miscellaneous Insurance

Insurance other than Fire, Marine and Motor come under Miscellaneous Insurance. Some of the common insurances include Burglary and Housebreaking Insurance, Money Insurance, and Fidelity Guarantee Insurance.

Burglary Insurance

Covers business premises such as a godown, factory or office. The policy can be taken on the full value or on first loss basis.

The policy covers loss or damage to the property insured by theft following actual, forcible and violent entry into the premises including damage caused to the premises.

Standard Exclusions:

  • Damage due to fire or riots/strike, terrorism
  • Depreciation, wear and tear and consequential losses
  • Gold, watches, jewellery, precious stones, plans, designs, money, business books etc. unless specifically insured

Money Insurance

Covers loss of money in transit between the insured’s premises and bank or post office or other specified places, due to robbery, theft or any other fortuitous cause. It also covers loss from burglary or housebreaking when the money is at the insured’s premises in a safe or strong room.

Standard Exclusions:

  • Shortage due to error or omission
  • Loss of cash entrusted to any person other than the insured or an employee of the insured
  • Losses arising from war and allied risks
  • Money carried under contract of affreightment

Fidelity Insurance

Covers the employer for any direct financial loss he may suffer as a result of employees’ dishonesty. The basis of fidelity guarantee originates from the employer and employee relationship or a fiduciary relationship where confidence or trust reposed plays a crucial part.

Standard Exclusions:

  • Losses such as stock taking shortages, trading losses, not caused by fraud or dishonesty
  • Discovered more than 12 months after the termination either of the guarantee or the service of the employee concerned
  • Where there has been any change in the agreed system of check of accounting precautions without the insurer’s prior consent

 Please refer to the policy document for detailed scope of cover and list of exclusions and other terms and conditions under the policy.

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Call us at +91-22-67618900 or write to us for more information or any questions you may have.

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