Windmill Package Insurance
NEW INDIA ASSURANCE COMPANY ‘S
WINDMILL PACKAGE POLICY
The New India Assurance Company Ltd is issuing a unique policy for Windmill’s called “Windmill Package Policy”.
The Coverages are:
- Fire & Allied Perlis as per Standard policy including STFI & EQ
- Burglary and Theft of the WTG are covered as per standard Burglary policy.
- Public Liability policy is provided for a Sum Insured of Rs.10 Lakhs on the basis of AOA: AOY = 1:1.
- Machinery Breakdown Insurance: MBD Policy covers WTG’s all systems, structures, including transformer oil and all accessories including the cost of dismantling, re-erection for effecting Breakdown repairs, Freight charges, Crane charges, and customs duty
Policy excess :
For AOG perils 5% of claim amount subject to the minimum of Rs.50,000.
For other perils 1% of the claim amount subject to a minimum of Rs.10,000.
UNDER THIS POLICY IT IS MANDATORY TO FIX THE SUM INSURED FOR THE “REINSTATEMENT VALUE”.