THE NEW INDIA ASSURANCE CO. LTD.
Regd. & Head Office : New India Assurance Bldg., 87, M. G. Road, Fort, Mumbai - 400 001

ALL RISKS INSURANCE POLICY

Whereas the Insured described in the Schedule hereto (hereinafter called the "Insured") by a proposal and declaration which shall be the basis of this contract and is deemed to be incorporated herein has applied to The New India Assurance Company Limited (here in after called the "Company") for the insurance hereinafter contained and has paid the premium stated in the said Schedule as consideration for such insurance during the period stated in the said
Schedule or during any further period for which the Company may accept payment for the renewal or extension of this Policy. The Company hereby agrees subject to the terms, conditions and exclusions herein contained or endorsed or otherwise expressed hereon, to indemnify the Insured to the extent of the intrinsic value of the property of the Insured or member(s) of his family, so lost, destroyed or damaged, by Fire, Riot and Strike, Theft or Accident, from any fortuitous cause, anytime during the period of this Insurance and within the limits stated in the Schedule hereto, provided always that the liability of the Company shall in no case exceed the Sum Insured on each item or on the whole total Sum Insured hereby.

EXCLUSIONS

The Company shall not be liable in respect of :-
1. 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.
2. 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.
3. Loss or damage caused by mechanical or electrical derangement/breakdown of any article
unless caused by accidental external means.
4. Over-winding , denting or internal damage of watches and clocks.
5. Loss or damage to Money, Securities, Manuscripts, Deeds, Bonds, Bills of Exchange,
Promissory Notes, Stocks or Share Certificates, Stamps and Travel Tickers or Travellers
Cheques, Business books or documents.
6. Theft from any car except car of fully enclosed saloon type having at the time all the doors,
windows and other openings securely locked and properly fastened.
7. Loss or damage whether direct or indirect arising from War, War-like operations, Act of
Foreign Enemy, Hostilities (whether war be declared or not) Civil War, Rebellion,
Insurrection, Civil Commotion, Military or Usurped Power, Seizure, Capture, Confiscation,
Arrests, Restraint and Detainment by the order of any Government or any other authority.
8. Any loss or damage arising through delay, detention or confiscation by Customs or other
authorities.
9. (a) Any loss, destruction or damage to any property whatsoever or any loss or
expense whatsoever, resulting or arising therefrom or any consequential loss and any
legal liability of whatsoever nature, directly or indirectly caused by or contributed to
by or arising from Ionising, radiation or contamination by radioactivity from any
source whatsoever.
(b) Any loss, destruction, damage or Legal Liability directly or indirectly caused by
or contributed to by or arising from Nuclear Weapons material.
10. Consequential loss or legal liability of any kind.
11. Loss or damage due to or contributed to by the Insured having caused or suffered anything
to be done whereby the risks hereby insured against were unnecessarily increased.
12. Loss or damage due to or contributed to by Terrorism and Sabotage activities.
In any action suit or other proceedings where the Company alleges that by reason of the
above provisions any loss or damage is not covered by this insurance, the burden of
proving that such loss or damage is covered, shall be upon the Insured.
C O N D I T I O N S
SPECIAL
1. SINGLE ARTICLE LIMIT : Unless specifically and separately stated, the Company's
liability in respect of each article or pairs of articles shall not exceed 5% of the total sum
Insured under this policy.
2. ARTICLES IN PAIRS OR SETS : Where any items insured hereunder consists of
articles in pair or set, the Company's liability in respect thereof shall not exceed the value of any
particular part or parts which may be lost or damaged without reference to any special value
which such article or articles may have as part of such pair or set and not more than a
proportionate part of the Insured value of the pair or set.
GENERAL
1. NOTICE : Every Notice and communication to the Company required by this Policy shall
be in writing to the Office of the Company through which this insurance is effected.
2. DUTY OF DISCLOSURE : This Policy shall be void and all premium paid hereon shall be
forfeited to the Company in the event of misrepresentation, misdescription or nondisclosure
of any material fact.
3. REASONABLE CARE : The Insured shall take all reasonable steps to safeguard the
property insured against accident, loss or damage.
4. CLAIMS PROCEDURE : Upon the happening of any event giving rise or likely to give
rise to a claim under this Policy :
(a) The Insured shall give immediate notice thereof in writing to the nearest office
with a copy to the Policy Issuing Office of the Company as well as lodge forthwith a
complaint with the Police. The Insured must also notify the Railways, Steamship
Company, Airline, Hotel Proprietors, or the Authority in whose care the property
vest at the time of the happening of any loss or damage.
(b) The Insured shall deliver to the Company, within 14 days of the date on which
the event shall have come to his knowledge, a detailed statement in writing, of the
loss or damage, with an estimate of the intrinsic value of the property lost and the
amount of damage sustained.
The Insured shall tender to the 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.
5. INDEMNITY : The Company may reinstate, repair or replace the property lost or
damaged, as the case may be, instead of paying the amount of the loss or damage, Upon
payment of any claim for loss under this Policy, the property in respect of which the
payment is made shall belong to the Company.
6. AVERAGE : If the property hereby insured shall at the time of any loss or damage be
collectively of greater value than the sum insured thereon, then the Insured shall be
considered as being his own insurer for the difference, and shall bear a ratable proportion
of the loss or damage accordingly, Every item, if more than one, of the Policy shall be
separately subject to this condition.
7. CONTRIBUTION : If at the time of the happening of any loss or damage covered by this
Policy there shall be subsisting any other insurance of any nature whatsoever covering the
same property whether effected by the Insured or not, then the Company shall not be liable
to pay or contribute more than its ratable proportion of any loss or damage.
8. SUBROGATION : The Insured and any claimant under this Policy shall at the expense of
the Company do and concur in doing/permit to be/or done all such acts and things that may
be necessary or reasonably required by the Company for the purpose of enforcing any
rights and remedies or obtaining relief or indemnity from other parties to which the
Company shall be or would become entitled or subrogated upon the Company paying for
or making good any loss or damage under this Policy whether such acts and things shall be
or become necessary or required before or after the Insured's indemnification by the
Company.
9. FRAUD : If any claim under this Policy shall be in any respect fraudulent or if any
fraudulent means or device are used by the Insured or any one acting on the Insured's
behalf to obtain any benefit under this Policy, all benefits and rights under the Policy shall
be forfeited.
10. CANCELLATION : The Company may at any time cancel this Policy, by giving 7 days
notice in writing by Recorded Delivery to the Insured at his last known address, in which
case the Company shall return to the Insured a proportion of the last premium
corresponding to the unexpired period of Insurance.
The Insured may also give 7 days notice in writing to the Company for cancellation of this
Policy, in which case the Company shall retain the premium for the period this Policy has
been in force at the Company's short period scales.
11. Arbitration and Disclaimer : If any dispute or difference shall arise as to the
quantum to be paid under the Policy (liability being otherwise admitted) such
difference shall independent ly of all other questions be referred to the decision
of a sole arbitrator to be appointed in wr iting by the parties to or if they cannot
agree upon a single arbitrator within 30 days of any party invoking arbitration
the same shall be referred to a panel of three arbitrators, comprising of two
arbitrators, one to be appointed by each of the parties to the dispute/difference
and the third arbitrator to be appointed by such two arbitrators and arbitration
shall be conducted under and in accordance with the provisions of the
Arbitration and Conciliat ion Act, 1996.
It is clearly agreed and understood that no difference or dispute shall be
referable to arbitration as herein before provided if the Company has disputed
or not accepted liability under or in respect of this Policy.
"It is hereby expressly st ipulated and declared that it shall be a condit ion
precedent to any right of action or suit upon this Policy that award by such
arbitrators or umpire of the amount of the loss or damage shall be first
obtained."
It is also hereby expressly agreed and declared that if the Company shall
disclaim liability to the Insured for any claim hereinunder, and such claim shall
not, within 12 calendar months from the date of such disclaimer have been
made the subject matter of a suit in a Court of Law, then the claim shall for all
purposes be deemed to have been abandoned and shall not thereafter be
recoverable hereunder.
12. OBSERVANCE OF TERMS AND CONDITIONS : The due observance and fulfillment of
the terms, conditions and endorsements of this Policy in so far as they relate to anything to
be done or complied with by the Insured shall be a condition precedent to any liability of
the Company to make any payment under this Policy.
13. RENEWAL NOTICE : The Company shall not be bound to issue any renewal notice nor
to accept renewal premium thereunder.
• Additional Conditions & Warranties (If Any )
1. Insured will bear first Rs.-_______________/- of each and every loss / claim payable under
this Policy.
N.B. IN THE EVENT OF DISHONOUR OF PREMIUM CHEQUE THE POLICY
AUTOMATICALLY STANDS CANCELLED AS FROM INCEPTION.