Jewellers Block Policy

Jewellers Block Policy
This is a package policy specially designed for jewellers & diamontaires i.e. those
establishments dealing solely in diamonds.
HighlightsThis is a package policy specially designed for jewellers & diamontaires i.e. those
establishments dealing solely in diamonds.
Jewellers premises are categorised into Class I, II or III depending upon the type of
security provided for the premises.
Discount in premium is available in case the premises have special protection devices
like built-in vaults, strong rooms ,closed circuit T.V. or armed guards.
Scope
The policy comprises four sections which are optional except for section I which is
compulsory.
Section I : Covers loss or damage to jewellery , gold and silver ornaments or plates ,
pearls, precious stones, cash and currency notes whilst contained in the premises
insured, by fire,explosion, lightning,burglary,house breaking, theft, hold up, robbery,
riot, strike and malicious damage and terrorism.
Section II : Covers loss or damage to jewellery, gold etc. as described in Section I
whilst it is in the custody of the insured, his/her partners, employees, directors, sorters
of diamonds or whilst such property (excluding cash and currency notes) is in the
custody of brokers, agents, cutters and goldsmiths.
Section III : Covers loss or damage to property described in Section I whilst in transit
by registered parcel post, air freight or through angadia.
Section IV : Covers loss or damage to trade and office furniture and fixtures in insured
premises due to fire,explosion, lightning,burglary,house breaking, theft, hold up,
robbery, riot, strike and malicious damage and terrorism.
Who can take the policy
The policy can be taken by jewellers who are wholesalers or retailers. The policy
cannot be given to establishments whose work is predominantly manufacturing like
cutters and goldsmiths. The policy also cannot be given to angadias , brokers or pawn
brokers etc.
How to select the sum insured
The sum insured under Section I and II should represent the cost price of the jewellery
items. The sum insured under Section III should represent the maximum loss likely,
arising out of any one incident. The sum insured under Section IV should represent the
market value of the property..
How to claim
In case of any incident giving rise to a claim under the policy , the following steps
should be taken :
1. Inform insurance company within 24 hrs.
2. In case of burglary,theft etc. inform police immediately and obtain FIR
3. Submit claim form and relevant documents to surveyor appointed by Insurance
Co. to substantiate loss.
Contact us for Premium Charts on Oriental Insurance Jewellers Block Policy for Jewelry Stores & Shops  here.

Office Umbrella policy

The Oriental Insurance Office Umbrella policy offers protection against different kinds of risks and perils an office environment may be subject to under various sections by providing comprehensive coverage.

The policy provides total coverage for all risks that are common to an office eliminating the need to take different policies.

• Covers building from various perils as per standard fire and special perils policy.
• Contents against fire and allied perils
• Money while in office or in transit from or to the office.
• Fixed glass and sanitary fittings from accidental breakage.
• Losses caused by fraud or dishonesty committed by any salaried employee.
• Accidental losses and electronic equipment in the office including mobile equipment.
• Additional rent required for alternative accommodation in the event of a loss.
• Bodily injury to insured persons by accidental means.
• Breakdown of appliances due to electrical and mechanical causes is covered under this section.
• Accidental loss or damage to baggage of persons during official journey is covered here.
• Liability to public for accidental bodily injury and property damage.
• Loss of income including increased cost of working, additional expenditure due to business interruption following a loss

• In case of damage to the building premises, the insurer will indemnify the insured the cost of replacement or reinstatement or repairs based on actuals, including removal of debris, consultation fees.
• In case, theft, accident or misfortune occurs to the money held by the office, the cover will also include replacement and/or repairs to the safe.
• Fixed glass and sanitary fittings are insured on a reinstatement basis.
• In event of any accident occurring to named employees, damages with regards to hospitalisation, ambulance charges and costs of clothing.
• In case of business interruption, the loss of income including increased cost of working and additional expenditure such as setting up of a temporary office, rates, taxes, cost of substitute equipment, hiring personnel, professional charges and additional expenditure such as rent, electricity, taxes, costs of removal will be paid for.

Ask our Authorised Oriental Insurance Agent for Premium Rates Calculation Comparision for Office Umbrella Policy..

Standard Fire and Special Perils Policy

A fire policy (Standard Fire and Special Perils Policy) insures the individual from monetary loss that a sudden accidental fire can bring. The Oriental Insurance Company Ltd Fire Floater Insurance Policy.

All immovable and movable property located at a particular premises such as buildings, plant and machinery, furniture, fixtures, fittings and other contents, stocks and stock in process along with goods held in trust or in commission including stocks at suppliers/ customer’s premises, machinery temporarily removed from the premises for repairs can be insured.

• Accidental fires
• Lightning
• Explosion & implosion ‘due’ to pressure vessels (used for domestic purposes)
• By rioting mob, striking workers and malicious acts by third parties
• Impact / Damage by rail/road vehicles, carts & animals
• By aircraft or any arial devices or articles dropped therefrom
• Landslide & rockslide.
• Storm, cyclone, flood & inundation and similar vagaries of nature
• Bursting and over flowing of water tanks and pipes etc.
• Missile Testing operations
• Leakage from sprinklers
• Bush Fire

•  Terrorism Damage
•  Architects, Surveyors and Consulting Engineer’s Fees (in excess of 3% of claim amount)
• Debris Removal (in excess of 1% of claim amount)
• Forest Fire
• Impact / Damage due to Insured’s own Rail/Road Vehicles and by aircraft or any arial devices and articles dropped therefrom
• Earthquake risks (Fire and Shock)

All property located in an industrial complex will be charged one rate depending on the product(s) made.

Facilities outside industrial complexes will be rated depending on the nature of occupancy at individual location.

Storage areas will be rated based on the hazardous nature of goods held.

Additional premium is charged to include “Add on” covers

Discount in premium is given based on past claims history and fire protection facilities provided at the premises.

One can also opt out riot, strike, malicious and terrorism damage covers and flood group and perils for reduction in premium.

• Destruction/damage by own fermentation natural heating or spontaneous combustion
• Undergoing any heating or drying process
• Burning of Property insured by order of any public authority
• Explosion/implosion damage to boilers, damage caused by centrifugal forces
• Forest Fire
• War and Nuclear group of perils
• Unspecified precious stones, cheques, currency etc.
• Electrical files
• Consequential losses
• Theft during/after operation of peril
• Mis-description, Mis-representation, Non-disclosure of material facts
• Expenses relating to claim documentation
• Fraud