Fire

Coverage
This insurance covers against loss or damage to the insured's property resulting from the following perils:

 

Basic:

Fire, Lightning, Standard explosion

 

Extensions:
Riot and Strike, Malicious Damage, Terrorism, Explosion, Electrical Extra Cover, Aircraft Damage, Impact Damage, Spontaneous Combustion (on stocks), Bursting/Escape of waste from tanks, apparatus or pipes, Cyclone, Storm, Tempest, Hurricane, Typhoon and Tornado, Earthquake, Volcanic Eruption, Overflow of the sea and Tsunami

 

Basis of Sum Insured

    • Indemnity Basis - The value of the insured property at the time of the loss
    • Reinstatement/Replacement value (excluding Stock)
    • Cost of reinstating/replacing the same type of property, though no superior to when it was new

     

Information required for a quotation
Name of the Proposer, Nature of Business, Description of Property and Sum to be Insured, Location, Type of construction, Occupation, Claim History

 

  • Home

 

Coverage


People's Home Insurance is specially designed to provide cover for your home and its contents in a single policy. Depending on your requirements you can insure the building only, contents only or building and contents.


Basic (includes loss/damage to the building and/or contents) due to:


Fire & Lightning, Explosion (excluding loss or damage to the pressure vessel or apparatus in which pressure is used), Specified Natural Perils (Storm, Flood, Earthquake, Volcanic eruption or overflow of the sea occasioned thereby), Impact by aircraft, road vehicles or animals; bursting or overflowing of a domestic Water Tank, Apparatus or Pipe; Accidental Breakage of fixed glass forming part of the building; Burglary


Optional Extensions:
Riot, Strike and Malicious Damage
Terrorism
Electrical Fire Damage to electrical appliances
Personal Accident - family
Workers Compensation - Domestic
Personal and Family Liability

 

Main Exclusions:
Malicious Damage/Riots and Strike, Terrorism (Cover available on request)
War and kindred risks
Sonic Bags
Lawful seizure
Radioactivity
Wear and tear, breakdown and depreciation

 

Free Benefits

  • Architects, Survey fees and Removal of debris - up to 10% of building Sum Insured
  • Cost of Alternative, accommodation/Loss of rent - up to 10% of the Sum Insured on buildings
  • Cover during Alterations and Repairs
  • Temporary Removal - up to 15% value of contents
  • Domestic worker's property - up to LKR 10,000/-
  • Damage to landscaping - up to LKR 10,000/-
  • Alterations, additions and improvements - up to 10% Sum Insured on building

The Policy documents the terms and conditions in detail.

  • Marine Cargo

Coverage
Cover against loss of and/or damage to goods during Cargo transit from one port/country to another

 

Types of cover:

  • Institute Cargo Clauses (A) - “All Risks” cover subject to the standard exclusions of the policy
  • Institute Cargo Clauses (B) - Named Perils
  • Institute Cargo Clauses (C) - Named Perils

 

Mode of Transport
Carrying by Sea, Air, Land or Courier

 

Information required for a quotation
Name of Proposer, Nature of Business, Description of Cargo, Type of Packing, Sum Insured/Limit per Conveyance/Location, Voyage, Mode of Conveyance, Claim History

 

  • Industrial All Risks
  • Motor

 

Private Motor Vehicle

 

Coverage

There are three types of coverage:

  • Third Party - Covers liability in respect of:

(a) Bodily injury/death to third parties
(b) Damage to third parties' property

  • Third Party Fire and Theft
  • Comprehensive

Basis of Sum Insured
Prevailing market value of insured vehicle

 

Information required for a quotation
Private vehicle - Application to be completed

  • Workmen's Compensation

 

  • Personal Accident

 

Coverage
Provides 24 hour worldwide cover for the insured persons against death and bodily injury caused by accident

 

Basis of Sum Insured
The maximum sum which can be insured is five years' earnings of the insured person

 

Information required for a quotation
Application to be completed

  • Burglary

Coverage
This insurance protects the insured against loss or damage by theft upon actual forcible and violent entry to or exit from the premises or any attempted theft

 

Basis of Sum Insured

  • Full Value: The maximum insurance value will be the value of the property before the occurrence of the risk
  • Limit Loss Basis: The sum insured respects only a portion of the full value of the property at risk

Information required for a quotation
Name of the Proposer, Nature of Business, Types of Properties to be Insured, Location of the Risk, Occupation, Sum Insured and Claim History

 

  • Money

 

Coverage
This insurance protects the insured against loss of money by any cause occurring in the situation during the Period of Indemnity

 

Information required for a quotation
Name of Insured, Nature of Business, Limit of Cover, Locations, Claim History

 

  • Public Liability

 

Coverage
This insurance indemnifies the insured against their legal liability for third party injury or property damage arising from the insured business

 

Limit Indemnity
The maximum liability of the insurer in respect of any claim or any series of claims for third party bodily injury or property damage carried by or arising out of one occurrence

 

Information required for a quotation
Name of Proposer, Nature of Business, Territorial Limits, occupations, Limit of Indemnity, Claim History

 

  • Medical Expenses