Property Insurance Add-on Covers – Coverage Limits & Underwriting Status
This post provides a consolidated summary of agreed, restricted, and non-applicable add-on covers under a Property Insurance Policy, along with applicable limits, conditions, and underwriting remarks.
Add-on Cover Matrix
| Clause / Add-on Cover | Limit / Applicability | Status / Remarks |
|---|---|---|
| Temporary Removal for Repair / Refurbishment | 5% of SI up to ₹5 Cr (Aggregate) | Agreed |
| Crane Hiring Charges | Part of final repair bill | If recommended by Surveyor |
| Demolition & Increased Cost of Construction | 5% of SI up to ₹5 Cr (Aggregate) | Agreed |
| Expediting Costs | 5% of SI up to ₹5 Cr (Aggregate) | Agreed |
| Leak Search & Finding Cost | 5% of SI up to ₹5 Cr (Aggregate) | Agreed |
| Minor Works | 5% of SI up to ₹5 Cr (Aggregate) | Agreed |
| Immediate Repair Clause | 5% of SI up to ₹5 Cr (Aggregate) | Agreed |
| Pair & Sets Clause | 5% of SI up to ₹5 Cr (Aggregate) | Agreed |
| Margin Clause | 5% of SI up to ₹5 Cr (Aggregate) | Agreed |
| Salvage Disposal Cost | As per CVC Guidelines | Agreed |
| Expiration Clause | As per Tariff | Agreed |
| Undamaged Foundation Cover | 5% of SI up to ₹5 Cr (Aggregate) | Agreed |
| Damage to Underground Services | 5% of SI up to ₹5 Cr (Aggregate) | Agreed |
| Outbuilding Clause | 5% of SI up to ₹5 Cr (Aggregate) | Agreed |
| Roads, Pavements & Street Furniture | As part of Landscaping Clause | Agreed |
| Primary & Non-Contributory Clause | Primary Clause agreed | Non-contributory not agreed |
| Sprinkler Leakage Cover | Covered | Agreed |
| Unpacking Expense Clause | 5% of SI up to ₹5 Cr (Aggregate) | Agreed |
| Protection & Preservation of Property | 5% of SI up to ₹5 Cr (Aggregate) | Agreed |
| Automatic Reinstatement of TSI | Upon payment of premium | Agreed |
| Brands & Trademark Clause | — | Agreed |
| Sprinkler Upgradation Cost | 5% of claim amount up to ₹5 Cr | Agreed |
| New / Unnamed Location Cover | 5% of SI up to ₹5 Cr (Aggregate) | To be notified within 60 days |
| Employee Personal Property | 5% of SI up to ₹5 Cr (Aggregate) | Max ₹20,000 per employee |
| Catalysts & Consumables | 5% of SI up to ₹5 Cr (Aggregate) | Agreed |
| Off-Premises Storage (Under Construction) | 5% of SI up to ₹5 Cr (Aggregate) | Agreed |
| Outage Clause | — | Not agreed |
| Testing & Commissioning Clause | As per policy wordings | Agreed |
| Customer Goods / Contract Price Insurance | — | Agreed |
| Accidental Damage | 5% of SI up to ₹5 Cr (Aggregate) | Agreed |
| Hire Purchase / Lease / Other Interests | 5% of SI up to ₹5 Cr (Aggregate) | Agreed |
| Waiver of Subrogation | — | Agreed |
| Unoccupancy Clause (Up to 1 Month) | — | Agreed |
| Nominated Loss Adjuster | Up to RO limit | Agreed |
| Landscaping Clause | 5% of SI up to ₹5 Cr (Aggregate) | Agreed |
| Spoilage Material Damage | 5% of SI up to ₹5 Cr (Aggregate) | Agreed |
| Smoke Damage Cover | 5% of SI up to ₹5 Cr (Aggregate) | Agreed |
| Bankruptcy & Insolvency Clause | — | Agreed |
| Covered Bank Clause | — | Agreed |
| Earthquake (Fire & Shock) + Tsunami | — | Agreed |
| Storm, Tempest, Flood & Inundation | — | Agreed |
| Reinstatement Value Clause (Excl. Stocks) | — | Agreed |
| Alternate Accommodation | Up to 5% of SI max ₹5 Cr | Agreed |
| Terrorism Cover | — | Agreed on additional premium |
| Spontaneous Combustion | — | Not applicable to occupancy |
| Claim Preparation Cost | Up to ₹25 Lakhs | Agreed |
| Shutdown / Start-up Expenses | Up to ₹1 Cr | Agreed |
| 72 Hours Clause | — | Agreed |
| Waiver of Underinsurance (Up to 15%) | — | Agreed |
| Basement Cover | — | Not applicable (no basement) |
Conclusion
This add-on matrix reflects a robust and well-negotiated property insurance program with clear limits, exclusions, and underwriting controls. All extensions remain subject to policy terms, deductibles, warranties, and insurer approval.
Disclaimer: Limits and applicability are indicative and may vary based on insurer, treaty terms, and occupancy.
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