Major Exclusions (Section I & II)
- The deductible stated in the Schedule to be borne by the Insured in any one occurrence
- Loss or damage due to faulty design
- The cost of replacement, repair or rectification of defective material and/or workmanship, but this exclusion shall be limited to the items immediately affected and shall not be deemed to excluded loss of road damage to correctly executed items resulting from an accident due to such defective material and/or workmanship
- Wear and tear, corrosion, oxidation, deterioration due to lack of use and normal atmospheric conditions
- Mechanical and/or electrical breakdown or derangement of construction plant, equipment and construction machinery
- Loss of or damage to vehicles licensed for general road use or water borne vessels or aircraft
- Loss of or damage to files, drawings, accounts, bills, currency, stamps, deeds, evidences of debt, notes, securities, cheques
- Loss or damage discovered only at the time of taking inventory
- Any accidents caused by vehicles licensed for general road use or by waterborne vessel or aircraft
- Any agreement by the Insured to pay any sum by way of indemnity or otherwise unless such liability would have attached also in the absence of such agreement
- Others