Overview
SOMPO IAR policy is an "all risks" form of insurance which cover not only all the "named perils" of Fire Insurance but also extend to cover "accidental damage" which could not be covered under the fire insurance, subject only to specific exclusions of the policy.
Coverage
- Standard Coverage
- Material Damage
- Business Interruption
- Theft by forcible entry
- Accidental Damage
- Additional Benefits
- Contingent Inconvenience Allowance
- Temporary Protection Cost
- Optional Coverage
- Full Theft
- Machinery breakdown / Machinery Breakdown Loss of Profit
The benefit(s) payable under eligible product is protected by PIDM up to limits. Please refer to PIDM’s TIPS Brochure or contact Berjaya Sompo Insurance Berhad or PIDM (visit www.pidm.gov.my)
Example of Coverage in the IAR
- Theft of equipment, plant & machinery and all contents including stocks of every description kept at Insured's premises can be covered under the IAR policy instead of a separate Burglary Insurance.
- Equipment of plant & machinery in transit within the premises is covered under the IAR policy.
- Accidental damage to plate glass or any fragile item or to movable equipment e.g. forklift, hoist, crane etc by collision or overturning or impact is covered under the IAR policy (but not the Fire Policy).
- Other accidental damage not specifically excluded from the Policy.
