All Risk Insurance Policy

IFFCO TOKIO General Insurance Company Limited

Call Center: 1800 103 5499,
www.itgi.co.in

All Risk Insurance Policy

All Risk Insurance Policy

This Policy is evidence of the Contract between YOU and US. The proposal along with any written statement(s),
declaration(s) of YOURS for purpose of this Policy forms part of this contract.
This Policy witnesses that in consideration of YOUR having paid the premium for the period stated in the Schedule
or for any further period for which WE may accept the payment for renewal of this Policy. WE will insure YOUR
properties as specified in the Schedule during the period of Insurance and accordingly WE will indemnify YOU in
respect of events occurring during the Period of Insurance in the manner and to the extent set forth in the Policy,
provided that all the terms, conditions and exemptions of this Policy in so far as they relate to anything to be done
or complied with by YOU have been met.
The schedule shall form part of this Policy and the term Policy whenever used shall be read as including the Schedule.
Any word or expression to which a specific meaning has been attached in any part of this Policy or of Schedule shall bear
such meaning wherever it may appear. YOUR Policy is based on information which YOU have given US and the truth of
these information shall be condition precedent to YOUR right to recover under this Policy.

Definition of Words
1.

Proposal
It means any signed proposal by filling up the questionnaires and declarations, written statements and any information
in addition thereto supplied to US by YOU or on YOUR behalf.

2.

Policy
It means the Policy Booklet, the Schedule and any applicable endorsements or memoranda. YOUR policy contains
the details of the extent of the cover available to YOU, what is excluded from the cover and the conditions, warranties
on which the Policy is issued.

3.

Schedule
It means the latest schedule issued by US as part of YOUR Policy. It provides details of YOUR Policy including full
description of properties covered which are in force and the period of cover YOU have against the properties
described.
A Revised Schedule will be sent at each renewal and whenever YOU request for a change in the cover.

4.

Sum Insured
It means the Monetary Amounts shown against any item.

5.

WE/OURS/US
It means THE IFFCO-TOKIO GENERAL INSURANCE COMPANY LTD.

6.

YOU/YOUR
It means the person(s)/the Company/the entity named as Insured in the Schedule.

7.

Insured item
The item marketed by YOU through YOUR Dealer, which is the subject matter of insurance under this Policy and
described in the Proposal and Schedule as the Insured item.

8.

Insured Person
The original customer to whom the insured item was sold by the Dealer.

9.

Period of Insurance
It means the duration of the Policy as shown in the Schedule.

10. Market Value

It means the Replacement Value of insured property or item as New at the time of Damage or Loss

IFFCO-TOKIO General Insurance Company Limited

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All Risk Insurance Policy

11. Loss/Lost:
It means the Damage or Loss.
12. Excess:
It means the first part of any claim for which YOU are responsible. Any Sum Insured/Limit will apply after the
Excess has been deducted. However, for this policy Excess is NIL.

General Conditions
1.

Reasonable Precaution and Care of Property

YOU shall take all reasonable precautions for safety and soundness of Insured Property and to prevent the loss in
order to minimise claims. YOU must comply with Makers recommended actions for inspection and maintenance and
shall comply all statutory requirements or other regulations and will employ only competent and honest employees.

2.

Notice
YOU will give every notice and communication in writing to OUR office through which this insurance is affected.

3.

Misdescription
This Policy shall be void and all premium paid by YOU to US shall be forfeited in the event of misrepresentation,
misdescription or concealment of any material information.

4.

Changes in Circumstances
YOU/Insured person(s) must inform US, as soon as possible, of any change in information YOU/Insured person(s)
have provided to US about yourself, the properties insured, location of risk which may affect the insurance cover
provided.
YOU/Insured person(s) must also notify US about any alteration made whereby risk of loss/damage is increased. In
case of such alteration made and not accepted by US in writing, the cover under this policy shall cease.

5.

6.

Claim Procedure and Requirements

Upon happening of an event giving rise or which may give rise to a claim:
a)

YOU/YOUR authorised representative or Insured person/Insured persons authorised representative shall forthwith
give notice in writing to OUR nearest office with a copy to Policy issuing office with full particulars. A written
statement of the claim will be required and a claim form will be provided. This written statement of claim along with
supporting documents (estimates, bill and the like) prepared at your expense or expense on your behalf along with
particulars of other Insurances covering the same risk must be delivered to US within 14 days of date of Loss.

b)

YOU/Insured Person shall lodge a complaint with the Police at the earliest after happening of the incident and take
all practicable steps to apprehend the guilty person and recover the property lost.

c)

YOU/Insured Person must notify the Railways, Steamship Company, Airline, Hotel proprietors or the authority in
whose care the property was at the time of happening of any loss or damage..

Claim Control and subrogation

WE are entitled to
a) Enter any place where Loss has occurred and deal with salvage but this does not mean that property can be
abandoned to US.
b)

Receive all information, proof of damage and assistance from YOU/Insured Person and any other person seeking
benefit under the Policy.

c)

Take proceedings at OUR own expenses and for OUR own benefit, but in YOUR/Insured persons name or in
name of any other person who is claiming or has received benefit, for the purpose of enforcing any rights and
remedies or obtaining relief or indemnity from other parties to which WE shall be or would become entitled or
subrogated upon, to recover any payment made or due under this Policy.

IFFCO-TOKIO General Insurance Company Limited

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All Risk Insurance Policy

7.

Fraud
If any fraudulent means or devices are used by YOU or the Insured Person or anyone acting on YOUR or on the
Insureds Person behalf to obtain any benefits under the policy or if loss or damage be occasioned by Your wilful act or
with Your connivance, all benefits under this policy in respect of such claims shall stand forfeited.

8.

Contribution
If at the time of happening of any loss covered by this Policy, there shall be existing any other Insurance of any nature
covering the same property, whether effected by YOU or not, then WE will pay only rateable proportion.

9.

Average
The Insurance under this Policy (except as regards damage done to the Premises as stated in the Schedule) is
subject to the following condition of 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 you shall be considered as being your own insurer for the difference and shall bear a rateable
proportion of loss accordingly. Every item if more than one of the policy, shall be separately subject to this condition.

10. Cancellation
WE may cancel this policy by sending 7 days notice in writing by Regd. A.D. to YOU/Insured Person at YOUR/Insured
Persons last known address. YOU/Insured Person will not be entitled to a pro-rata refund of premium for the
unexpired period of this policy from the date of cancellation, which WE are not liable to repay on demand. YOU may
cancel this Policy by sending written Notice through Registered A.D. to US.
Short Period of Cover Upto
Refund of Annual Premium rate (%)
1 Month
75%
3 Months
50%
6 Months
25%
Exceeding 6 Months
NIL
.
11. Arbitration
Should any dispute arise between YOU and US on quantum of amount payable (liability being otherwise admitted by
US), such dispute will independently of all other questions be referred to the decision of Arbitrator(s) in accordance
with statutory provision of the country in force at that time. Further, when any dispute is referable or referred to
Arbitration, the making of an award by Arbitrator(s) shall be a condition precedent to any right of action by YOU against
US.
12. Disclaimer Clause
If WE shall disclaim OUR liability in any claim, and such claim shall not have been made subject matter of a suit in a
court of law within 12 months from the date of disclaimer, then the claim shall for all purposes be deemed to have been
abandoned and shall not thereafter be recoverable under this Policy.
13. Interest/Penalty
No sum payable under this policy shall carry any interest or penalty.
14. Geographical Scope
The geographical scope of this policy will be India unless the policy has been specifically extended for worldwide
coverage in which case the claims shall be settled in India in Indian rupees. The laws of India shall govern the
provisions of this policy for the time being in force. The parties hereto unconditionally submit to the jurisdiction of the
courts in India.
15. Renewal Notice:
WE shall not be bound to accept any renewal premium or give notice that such premium is due.

Scope of Contract
Coverage
If the Property insured belonging to YOU/Insured Person is damaged by any cause listed under What is covered, then
WE will indemnify YOU/Insured Person to the extent of value of loss of contents.

IFFCO-TOKIO General Insurance Company Limited

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All Risk Insurance Policy

What is covered

What is not covered

WE will not be liable for:

The ambit of this cover is Loss of or Damage to

Property insured caused by Fire, Burglary,
Theft or accident by involvement of a human
agency any time during the period of
Insurance.
Limit of Liability: - Our liability shall in no case
exceed in respect of each item the sum insured
thereon or in the whole the total sum insured or
such other sum or sums as may be substituted
there for, by any endorsement during any one
period of insurance.

i)

Damage caused by any process of cleaning, dyeing or

bleaching, restoring, repairing or renovation or deterioration
arising from wear and tear, moths, insects, vermin, mildew,
inherent defect or any other gradually operating cause.

ii)

Damage due to breakage, cracking or scratching of household

goods, foodstuff, domestic appliances, 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 conveyance
by which it is conveyed.

iii)

Damage:

a)
b)
c)
d)
e)
f)
g)
h)

To property insured caused by its undergoing any heating process

or any process involving the application of heat.
Due to theft or attempted theft by or in connivance with you or
your family.
Due to any person obtaining property by deception.
Mechanical or electrical breakdown or failure.
Market depreciation or improper maintenance.
To electrical equipment by its short circuiting or over-running not
resulting into fire.
To gaming and amusement machines or other machines or
equipment which is provided for operation other than by you.
Due to theft from any unattended vehicle unless the vehicle and
all the doors, windows and other openings are securely locked and
properly fastened.

iv)

Damage to money, securities, manuscripts, deeds, bonds, bills

of exchange, promissory notes, stocks or share certificates,
stamps and travelers cheques, business books or documents.

v)

Any living creature.

vi)

Cost of remaking any film, disc, tape or the value of any

information contained in it.

vii) Loss directly or indirectly occasioned by or happening through

or in consequence of war, Invasion act of foreign enemy,
hostilities (whether war be declared or not), Civil war, rebellion,
revolution, Insurrection, Military or usurped power, Confiscation,
nationalisation or loot pillage in connection therewith.
viii) Any Loss arising from or in consequence of requisition or
destruction by or under order of any Public Authority.
ix)

x)

IFFCO-TOKIO General Insurance Company Limited

a) Loss to any property whatsoever or any expenses

whatsoever resulting or arising there from or any consequential
loss.
b) Any legal liability of whatsoever nature;
Directly or indirectly caused by or contributed to by or arising
from ionising radiation or contamination by radio activity from
any source whatsoever.
Any Loss arising out of Riot & Strike, Terrorism, Earthquake,
Malicious Damage, Storm, Tempest, Flood, Inundation,

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All Risk Insurance Policy

Hurricane, Torando, Act of God perils, Landslide, Subsidence,

Explosion, Implosion, Lightning, Aircraft Damage, Impact
Damage, Missile Testing Operation, Leakage from Automatic
Sprinkler Installation, Bursting or Overflowing of Water Tanks
Apparatus & Pipes, Bush Fire
xi)

Any repair carried out by anyone other than authorised service

providers of the insured item.

Special Conditions
.
1. Indemnity
WE may at OUR option reinstate, replace or repair the property or any part thereof or pay the amount of Loss/damage or
may join with any other Insurer(s) in doing so, but WE shall not be bound to reinstate exactly or completely but only as
circumstances permit and in reasonably sufficient manner and in no case WE shall be bound to expend more in
reinstatement than it would cost to reinstate such property as it was at the time of occurrence of such damage, nor more
than the Sum Insured thereon. Upon payment of any claim under this policy, the property in respect of which the payment is
made shall belong to us.
2. Transfer of Interest
This Policy shall cease to attach to any property in which YOUR/Insured Persons interest shall pass from YOU/Insured
Person otherwise than by will or operation of law, Unless OUR consent to the continuance of the Insurance is obtained and
signified on the Policy.
3. Onus of Proof
In any action, suit or other proceedings where WE allege that by reason of the above provisions any damage is not covered
by this Insurance, the burden of proving that such damage is covered shall be upon YOU.
4. Single article limit
Unless specifically and separately stated, our liability in respect of each article or pairs of articles shall not exceed 10% of
the total sum insured under this policy.
5. Articles in pairs or sets
Where any item insured under this policy consists of articles in pair or set, our liability in respect of such items shall no t
exceed the value of any particular part or parts which may be lost or damaged without reference to any special value which
such articles or articles may have as part of such pair or set nor more than a proportionate part of insured value of pair or
set.

Policy Clauses/Endorsement Wordings

Following are the wordings of the endorsements/ clauses attached with the policy issued. Only those
endorsements/clauses stands covered which are mentioned on the schedule of the policy. Rest of the
endorsements/clauses stands deleted for all purposes. The applicable clauses/endorsements mentioned on the
schedule are part of the policy and shall be taken into account for interpretation and determination of liability under
the policy.

IFFCO-TOKIO General Insurance Company Limited

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All Risk Insurance Policy

Terrorism Damage Exclusion Warranty

Notwithstanding any provision to the contrary within this insurance it is agreed that this insurance excludes loss, damage
cost or expense of whatsoever nature directly or indirectly caused by, resulting from or in connection with any act of
terrorism regardless of any other cause or event contributing concurrently or in any other sequence to the loss.
For the purpose of this endorsement an act of terrorism means an act, including but not limited to the use of force or
violence and / or the threat thereof, of any person or group(s) of persons whether acting alone or on behalf of or in
connection with any organisation(s) or government(s), committed for political, religious, ideological or similar purpose
including the intention to influence any government and/or to put the public, or any section of the public in fear.
The Warranty also excludes loss, damage, cost or expenses of whatsoever nature directly or indirectly caused by, resulting
from or in connection with any action taken in controlling, preventing, suppressing or in any way relating to action taken in
respect of any act of terrorism.
If the Company alleges that by reason of this exclusion, any loss, damage, cost or expenses is not covered by this insurance
the burden of proving the contrary shall be upon the insured.
In the event any portion of this endorsement is found to be invalid or unenforceable, the remainder shall remain in full force
and effect.

Basis of Indemnity
a) In cases where an item can be repaired the company will pay expenses necessarily incurred to restore the damaged machine
to its former state of serviceability plus the cost of dismantling and re-erection incurred for the purpose of effecting the repairs as
well as ordinary freight to an from a repair shop customs duties and dues if any, to the extent such expenses have been included
in the sum insured. If the repairs are executed at a workshop owned by the insured, the company will pay the cost of materials
and wages incurred for the purpose of the repairs plus a reasonable percentage to cover overhead charges.
No deduction shall be made for depreciation in respect of parts replaced, except those with limited life, but the value of any
salvage will be taken in to account. If the cost of repairs as detailed herein above equals or exceeds the actual value of the
machinery insured immediately before the occurrence of the damage, the settlement shall be made on the basis provided for in
(b) below.
b) In cases where an insured item is a total loss, the Company will pay the actual value of the item immediately before the
occurrence of the loss, including costs for ordinary freight, erection and custom duties if any, provided such expenses have been
included in the sum insured, such actual value to be calculated by deducting proper depreciation from the replacement value of
the item. The Company will also pay any normal charges for the dismantling of the machinery destroyed, but the salvage will be
taken in to account.
Any extra charges incurred for overtime, night work, work on public holidays, express freight, are covered by this insurance only
if especially agreed to in writing.
In the event of the Makers drawings, patterns and core boxes necessary for the execution of a repair not being available the
Company shall not be liable for the cost of making any such drawings, patterns and core boxes.
The cost of any alterations, improvements or overhauls shall not be recoverable under this policy.
The cost of any provisional repairs will be borne by the Company if such repairs constitute part of the final repairs, and do not
increase the total repair expenses.
In case where the insured item is subjected to total loss and meanwhile it becomes obsolete, all costs necessary to replace the
lost or damaged insured item with a follow up model (similar type) of similar structure / configuration (of similar quality) i.e. low,
average or high capacity will be reimbursed.

IFFCO-TOKIO General Insurance Company Limited

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All Risk Insurance Policy

If the sum insured is less than the amount required to be insured as per Provision 1 herein above, the Company will pay only in
such proportion as the sum insured bears to the amount required to be insured. Every item if more than one shall be subject to
this condition separately.
The Company will make payments only after being satisfied, by production of necessary bills and documents, that the repairs
have been effected or replacements have taken place, as the case may beThe Company may however, not insist for bills and
documents in case of total loss where the insured is unable to replace the damaged equipment for reasons beyond their control.
In case of total loss where the insured is unable to replace the damaged equipment for reasons beyond their control in such
cases claims can be settled on Indemnity basis
Reinstatement Premium
At all times during the period of insurance of this Policy the insurance cover will be maintained to the full extent of the respective
sum insured in consideration of which upon the settlement of any loss under this policy, pro-rata premium for the unexpired
period from the date of such loss to the expiry of period of insurance for the amount of such loss shall be payable by the insured
to the Company.
The additional premium referred above shall be deducted from the net claim amount payable under the policy. This continuous
cover to the full extent will be available notwithstanding any previous loss for which the company may have paid hereunder and
irrespective of the fact whether the additional premium as mentioned above has been actually paid or not following such loss.
The intention of this condition is to ensure continuity of the cover to the insured subject only to the right of the company for
deduction from the claim amount, when settled, of pro-rata premium to be calculated from the date of loss till the expiry of the
policy.
Notwithstanding what is stated above, the Sum insured shall stand reduced by the amount of loss in case the insured
immediately on occurrence of the loss exercises his option not to reinstate the Sum insured as above.

IFFCO-TOKIO General Insurance Company Limited

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All Risk Insurance Policy

IFFCO TOKIO Product Protection Plan

What is the offer: This Insurance Scheme Offer is to protect only the following Samsung products purchased exclusively from
select Samsung Smart Plaza.
o 32 Full High Definition & above Panels
o Home Theatre/Speaker systems with MRP 20000/- & above
o Frost Free Home / CBU / Side by Side Refrigerators
o Fully Automatic Top Load 6.5Kg+ and all Fully Automatic Front Load Washing Machine
o 3 Star / 5 Star / Inverter Air Conditioners
o Convection Microwave Owen
o Vaccum Cleaners & Air Purifier

How can I avail the Offer:? The buyer of the above products, intending to avail this Insurance Scheme Offer, shall mandatorily
have to register the product with necessary details with M/s IFFCO TOKIO General Insurance Co. Limited (hereinafter referred to as
IFFCO TOKIO) within seven (7) days of the purchase of the product. This insurance scheme shall be activated only for those
buyers who register their products with complete details within seven (7) days from the purchase of the products, whereas no
registration shall be accepted if it is beyond the mentioned days.

What is Coverage under the Insurance Scheme offer:? Under this Insurance Scheme Offer products purchased from select
Samsung Smart Plaza will be protected against Fire, Burglary, Theft and Accidental Damage at a location and address as specified
in the invoice copy as place of installation and storage of the product and shall be subject to terms and conditions, and wordings of
IFFCO TOKIOs ALL RISK POLICY. The insurance protections shall be for a period of one (1) year from the date of purchase of the
above products and will be available only to those buyers of products who have registered with IFFCO TOKIO to avail the said
insurance offer with IFFCO TOKIO within 7 days of the purchase of the above product.

How do I register to avail of Insurance Scheme Offer:? In order to register the buyer of the above product shall have to either
visit the IFFCO TOKIOs website(www.iffcotokio.co.in) and enter the requisite details or can make a call at IFFCO TOKIOs toll free
call centre no. 1800-103-5499. On registration, IFFCO TOKIO shall provide a registration acknowledgment through e-mail to the
customer. It is clarified and represented that mere acknowledgment of registration cannot be construed as acceptance of coverage
by IFFCO TOKIO and Insurance protection shall be subject to the fulfilment of the conditions of this insurance scheme offer.What is
the Limit of Liability under the Insurance scheme?. The Liability of IFFCO TOKIO under the scheme shall be subject to
accumulated limit of INR 7,00,000/- (INR Seven Lakhs Only) per customer for all claims for all products registered with IFFCO
TOKIO. Claims arising from more than one incident shall have to be claimed as separate claim. Each claim shall be subject to a
deductible amount of 10% of the claim amount or INR 1,000/- (INR One Thousand Only/-) whichever is higher.
IFFCO TOKIO in its discretion, may reinstate, replace or repair the property or any part thereof or pay the amount of Loss/damage
and shall not be bound to reinstate exactly or completely but only as circumstances permit and in reasonably sufficient manner. In
no case, IFFCO Tokio shall be bound to expend more in reinstatement than it would cost to reinstate such property as it was at the
time of occurrence of such damage, nor more than the invoice value of the product. Upon payment of any claim under this policy,
the property in respect of which the payment is made shall belong to ITGI.

Whom should I call for a claim? Intimation of Claim to IFFCO TOKIO shall be accepted at toll free call centre No 1800-103-5499 if
called within [14] days. In case of losses arising from Theft, Robbery, Dacoity or Burglary a police report of having registered the
case with police within 24 hrs of the occurrence would be required. Customers must also preserve the original purchase invoice as it
will be required for verification at the time of making any claims.

What is the IFFCO-TOKIOs helpline number? All correspondence/queries with regard to this scheme shall be directly addressed
to and will be dealt by IFFCO TOKIO Customer Care. The customer can write on customer care or call on the toll free number i.e.,
is 1800-103-5499.

IFFCO-TOKIO General Insurance Company Limited

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