20 December 2009
Fire, Earthquake, Machine Breakdown, Loss of Profit Policy etc. can be taken by a mfg. unit.
Insurance coverage value is dependant on the present "market value" or book value of the asset to be insured.
Care should be taken to cover the whole part of assets' value. Otherwise average clause is applicable and at the time of claim you will get only that percentage of claim which you have insured.
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