With equipments insurance policy, one can be assured of complete financial security and protection to the insured equipments from the date of the policy purchase and the end of the same. Indemnifies the Insured for direct physical loss, damage or destruction to the equipment's owned by the Insured, including but not limited to cameras, camera equipment, sound and lighting equipment, portable electrical equipment, mechanical effects equipment, grip equipment and mobile equipment whilst:
- In transit, operation, and storage during the period of insurance of the declared production
- stored and/or lying in the premises or whilst stored and/or lying and/or erected at the site of shooting during the period of insurance of the declared production
- in transit from one place to another of shooting during the period of insurance of the declared production
The policy bearer does not have to pay for any major expenses on the equipments damage or loss, which are covered for. This means, the person can save huge, and be worriless with their activities, as long as the equipments in question do not fall under perils excluded from the policy.
Following Perils are covered under this section
The equipments insurance policy covers for many of the perils, which safeguard the insured objects and machineries from damage or loss of great extent:
- Explosion/ Implosion
- Subsidence and Landslide including Rock slide
- Riots, Strike and Malicious Damage
- Storm, Cyclone, Typhoon, Tempest, Hurricane, Tornado, Flood and Inundation
- Impact Damage
- Burglary, Theft, Housebreaking
BASIS OF SUM INSURED
Property will be valued at the full cost of replacement by new.