For example: a combine harvester collided with a hidden stone in the crop. Brand new equipment is insured on the basis of its first-hand selling price, so that in case of total loss the client can be indemnified within the value of new equipment. This policy shall cover any unforeseen and sudden physical damage to the property by any cause not specially excluded.
In both cases freight and customs duty are also paid if they are included in suminsured. Building a better plant requires intelligent tools for streamlining processes. You may extend your policy by paying additional premium. Some items of plant may require liability cover which needs to be evaluated.
In general terms, no admission of liability should be made to any party in any form whatsoever. This means that the policy will respond to claims first made against you and reported to the insurer during the period of insurance, specified in the policy schedule. Your property is at risk … and so is your business. Electronic equipment is a crucial factor of any professional activity today.