Tea Factory Insurance
What it covers
This Insurance is basically a Fire and allied perils policy that offers cover against fire and allied perils and the perils of nature. This policy can cover the Tea factory buildings, fixtures and fittings, plant and machinery, stocks, furniture, fixtures and fittings and other contents that are incidental to the manufacture of Tea.
Sum Insured: Should represent reinstatement values other than stocks in case of modern factories or on indemnity basis where the factory and the machineries are of the old type.
What it covers
The standard cover is a named-peril policy covering the following perils at an additional premium depending on the merits of the risk involved
- Fire and lightning (rates are governed by compliance of tea factory warranties)
- Explosion (excluding explosion/ implosion of boilers, economizers or other vessels, machinery or apparatus in which steam is generated)
- Electrical extra
- Aircraft including damage caused by any article dropped there from (excluding pressure waves)
- Riot and strike
- Cyclone, storm, tempest, hurricane, typhoon, tornado, volcanic eruption, tidal waves and tsunami
- Earthquake
- Flood damage
- Impact damage caused by any vehicle or animal (other than own)
- Malicious damage
- Escape of water from tanks, pipes and apparatus
- Spontaneous combustion
- Terrorism
- Political risks exclusions
- Radioactive exclusions
- Pollution/contamination exclusions
