Covers accidental physical loss or damage to your property. If something goes wrong, we repair, replace, or compensate you based on the value of the item at the time of loss.
What is covered
- Buildings
- Furniture, fixtures & fittings
- Office contents
- Plant & machinery
Your sum insured should match the current replacement or market value (minus wear and tear).
What’s not covered:
- Property in transit (outside the insured premises)
- Property under construction, testing, or installation
- Cash, cheques, jewellery, precious stones, art pieces (unless noted under extensions)
- Vehicles and their accessories
- Damage caused by mechanical breakdown
- Nuclear risks, radiation, war, terrorism, and political risks
- Unexplained shortages or accounting errors
- Employee dishonesty
- Theft without force or violent entry
- Wear and tear, corrosion, mould, pests
- Slow structural defects or poor workmanship
- Losses due to delays, loss of market, or indirect business losses
If an insured event under Section A affects your operations, this section covers your financial losses.
What’s included:
- Gross profit
- Wages
- Indemnity period
- Increased cost of working (optional)
The indemnity period starts from the date of the damage and lasts until your business stabilises, up to the maximum period stated in your policy.
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