What is All Risks Insurance?

All Risks Insurance is the widest cover available for properties. This insurance is designed to cover your property against loss or damage caused by any accident or misfortune unless specifically excluded in the policy.

This type of insurance covers mainly personal effects & portal items. It can be extended to cover property consisting of physical assets under Assets All Risks Insurance policy. The main items/assets covered under the latter include:

  • Building
  • Furniture, Fixtures and Fittings
  • Plant and Equipment
  • Office Equipment
  • Stock in Trade from raw materials to finished products

Why do you need All Risks Insurance?

All Risks Insurance provides a wide range of cover to protect personal effects and portable items. This is to ensure that all your valuables are protected in the event of the unexpected.

What does All Risks Insurance Cover?

The All Risks Insurance policy from Goldstar, covers all forms of accidental damage or loss and operates on the basis that any peril which is not excluded is covered.

It is possible for the geographical area to be extended to worldwide at an extra cost.

This policy is suitable for people owning Jewellery or valuables, which are prone to accidental loss or damage.

Additional Information:

The policy covers valuables like Jewellery, ornaments, paintings, works of art, and similar artifacts of sentimental value. Generally each item is specifically identified and is allocated a different Sum Insured.

For items such as Jewellery and fur, Insurers issue agreed value policies under such policies, the amount set against specified items will be paid in full in the event of total loss. These policies are only issued on the basis of valuation produced by the professionals and brought to the insurer to effect cover.

The scope of cover is limited to loss or damage due to fire, riot & strike, terrorist act, burglary, house - breaking, robbery or theft and accidental loss or damage.

The Indicative Premium:

Premiums are based on underwriting considerations, which are dependant on the completed proposal forms.

While providing a quote, the premiums may be a reflection of the following indicative rates:

  • Items with power surge – 1%
  • Items without power surge – 0.75%
  • All portable items like Cell Phones, laptops, Cameras, Projectors and similar items – 3%