Goods in Cold Storage
Sum Insured: Should represent the value of stocks inclusive of all charges other than the profit element.
What it covers
This class of Insurance is granted as an extension to Machinery breakdown and/or Machinery all risks policies. This follows fortunes of such policies as the cover provided is for the deterioration of stocks in the cold storage due to an admissible claim under the Machinery breakdown or Machinery all risks insurance policies.
Sum Insured: Should represent the value of stocks inclusive of all charges other than the profit element.
What it covers
- Deterioration of stocks/goods due to accidental damages occurring to the cold room machinery insured under the Machinery breakdown or Machinery all risks Insurances.
- Inherent defects, diseases, natural deterioration or natural putrefaction, shrinkage etc.,
- Improper storage, damage to packing material, insufficient circulation of air, non uniformity of temperature
- Losses due to Fire and allied perils
- Wilful act or wilful negligence
- Losses due to temporary repairs
- Tests imposing abnormal conditions
- Political risks exclusions
- Radioactive exclusions
- Pollution/contamination exclusions
- Consequential losses
