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Products & Services >> Burglary And Housebreaking Policy>>
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Whereas the Insured described in the Schedule by a proposal
and declaration which shall be the basis of this Contract and is
deemed to be incorporated herein has applied to the RELIANCE
INSURANCE LIMITED (hereinafter called the “Company”) for the
insurance hereinafter contained and has paid or agreed to pay the
premium mentioned in the Schedule as consideration for such
insurance.
Now this policy witnesseth that if during the period
set forth in the Schedule and during any subsequent period for which
the Company may agreed to accept a renewal premium, the property
insured or any part of such property described in the Schedule
hereto and belonging to the insured or held by the insured in trust
or on commission and for which the insured is responsible whilst
contained within the premises occupied by the insured and situated
at the address mentioned in the Schedule shall be lost by BURGLARY
or HOUSEBREAKING following upon and actual forcible and violent
entry into or exit from the premises by the person or persons
committing such Burglary or Housebreaking or if there shall arise
any damage to the property or to the premises falling to be born by
the insured, which shall be due to any such Burglary or
Housebreaking of any attempt thereat then the Company will (subject
to the conditions contained herein or endorsed or otherwise
expressed hereon) pay or make good to the insured such loss to the
extent of the intrinsic value of the property so lost such damage to
the amount so sustained upto a sum not exceeding in respect of any
one the several descriptions of property the sum set opposite
thereto as the sum insured. Provided that the liability of the
Company in respect of any loss and or damage shall not exceed the
total sum insured as stated in the Schedule. The premises mentioned
in the Schedule shall not include any yard garden, outbuilding or
their appurtenances unless specifically included in the Schedule
hereto.
Provided also that all sums which may from time! to time be
paid as or by way of compensation for loss or damage under this
Policy in anyone year of insurance for or in respect of each or
anyone description of property or anyone specially described and
valued article lost or damaged shall be accounted in diminition of
the sums insured thereon, so that in case of subsequent loss or
damage during the same year of insurance the amount payable by the
Company shall not in any event exceed the sum insured in respect
thereof not altogether the total sum insured by this Policy.
CONDITIONS
1. This Policy and the Schedule shall be read together as one
contract and any word or expression to which a specific meaning has
been attached in any part of this Policy or of the Schedule shall
bear the same meaning wherever it may appear
2. The Insured shall take all due and proper precautions for the
safety of the property insured.
3. This Policy does not cover |
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a) Deed, Bonds, Bills of Exchange, Cheques, Promissory Notes, Money,
Securities for Money, Stamp Collections, Manuscripts, Patterns,
Models, Moulds, Plans, Drawings or Designs, Medals, Coins, Rate
Books, Books of Account, Business Books, Contract or Documents of
Title to Property unless specifically mentioned in the schedule.
b) Loss or damage caused, brought about, expedited, directly or
indirectly by any member or the Insured's family, domestic servants
or employees or any person lawfully on the premises.
c) Any legal liability of whatsoever nature.
d) Loss or damage which can be insured under Fire or Plate Glass
Insurance Policy.
e) Loss or damage during the progress of or following upon fire or
explosion.
f) Loss or damage directly or indirectly occasioned by or happening
thmugh or in consequence of Earthquake, War, InvaSion, Act of
Foreign Enemy, Hostilities or Warlike Operations (whether War be
declared or not), Strike, Rial, Civil Commotion, Civil War, Mutiny,
Rebellion, Revolution, Insurrection, Conspiracy or Military or
Usurped Power.
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4. Nothing herein contained shall give any right against the Company
to any person other than the Insured unless the transferee has been
approved by the Company by an endorsement on the Policy.
5. Upon the happening of any event giving rise or likely to give
rise to a. Claim under this Policy;
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a) The Insured shall give immediate notice thereof in writing to the
Company stating the circumstances of the case, and take all
practicable steps to discover the guilty person or persons, and to
recover the property lost, and unless: such notice tie received by
the Company within FOURTEEN DAYS of the happening of such event the
Company shal1 be under no liability for any loss or damage occurring
in connection with such event.
b) The insured shall within FOURTEEN DAYS after such notice deliver
to the Company a detailed statement in writing of the loss or
damage, with an estimate of the value of each article lost and the
amount of the damage sustained.
c) The insured shall furnish to the Company at their own expense all
such particulars and evidence, documentary or otherwise, and execute
and do all such assurances and things as the Company may reasonably
require to substantiate the claim, to discover & punish the guilty
person or persons, to tface and recover the property lost and to
recoup the Company as far as may be, in respect of the amount they
shall payor be liable to pay under the Policy.
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6. The Insured shall immediately give notice of every loss or
damage to the police and at his own expense shall take all
practicable steps to discover the guilty person or persons and
to prosecute him and to obtain his conviction for the offence
and to trace and recover any article lost and shall at the
expense of the Company do and concur in doing and permit to be
done all such things as may be reasonably required by the
Company for the purpose of enforcing any rights and remedies to
which the Company shall become entitled upon paying for or
marking any goods lost or damaged under this Policy.
7. The Company may at its option reinstate, repair or replace
the property or premises lost or damaged as the case may be
instead of paying the amount of the loss or damage and may join
with any other insurers in so doing in cases where the property
is also Insured elsewhere. 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.
8. If at the time of the loss or damage there shall be any other
subsisting insurance covering any of the risks covered by this
Policy the Company shall not be liable for more than its
rateable proportion thereof.
9. The due observance and fulfillment by the Insured of the
terms and conditions of this Policy and any endorsements which
may be made hereon shall be a condition precedent to the
Insured's right to recover hereunder and if the Insured either
in: the proposal aforesaid or in any statement made on any
renewal of this insurance or in connection with any claim
hereunder makes any misrepresentation or misstatements or
omission the Policy shall be void, all premium paid hereunder
shall be forfeited.
10. The Company may at any time by giving seven days notice in
writing to the Insured at his address at last recorded by the
Company determine this Policy as from the expiration of such
seven days, provided that the Company shall in that event return
to the Insured a proportionate part of the premium for the
unexpired terms-of the Policy. The Company shall not be bound to
send any notice for any of the renewal premium becoming due or
to renew the Policy.
11. In the event of a claim having been lodged with the Company
and having been recognised under the condition of this Policy
unless such claim be prosecuted within the period of twelve
months, then this policy shall be null and void in respect of
this said claim.
12. If the property hereby insured shall at the time of any
theft 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 rateable proportion
of the loss accordingly. Each and every item of the policy shall
be separately subject to this condition.
13. If any difference shall arise as to the amount to be paid
under this Policy (liability being admitted) such difference
shall be referred to an Arbitrator to be appointed by the
parties in accordance with the statutory provisions in that
behalf for the time being in force. Where any difference is by
this condition to be referred to arbitration the making for an
Award shall be a condition precedent to any right of action
against the Company.
14. Warranted that the premises described herein containing the
property insured shall remain securely locked throughout the
night and such other times when it is left unoccupied and shall
also be guarded by appointed Chowkiders/guards armed with either
fire arms or any other weapons by which miscreants can be
resisted. However this condition shall not apply in case of
private dwelling house.
15. Each and every warranty and condition therein before
contained shall attach and continue during the whole currency of
this Policy and no alteration in the terms of this Policy nor
any endorsement thereon shall be held valid unless the same is
signed or initialled by an authorised official of the Company.
Every notice or communication to be given or made under this
Policy shall be delivered in writing at the Office of the
Company as stated hereon. |
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