This policy is suitable for people owning jewellery or valuables, which are prone to accidental loss or damage.
The policy covers valuables like jewellery, ornaments, paintings, work of art, and similar artifacts of sentimental value, etc.
The scope of cover is limited to loss or damage due to fire, riot & strike, terrorist act, burglary, house - breaking, larceny or theft and accidental loss or damage.
The policy pays for any loss or damage to the property insured caused by insured perils.
The amount of claim payable would be limited to the sum insured or market value at the time of loss, whichever is lower.
Premiums are based on underwriting considerations, which are dependant on the completed proposal forms.
In case of paintings or work of art, other than damage by fire, partial losses are not covered.
Completed proposal form giving full and accurate information. All items to be covered should be fully described for easy identification in future. Unless value of each item is declared separately, the claim for each item will be limited to 5% of the total sum insured.