UNITED INDIA INSURANCE COMPANY LIMITED

BRANCH OFFICE-KALPETTA, 2ND FLOOR,KALPETTA ARCADE, Near New Bus Stand,

BO KALPETTA - 673121 KERALA
PHONE: (4936) 202662,(4936) 204187 FAX: EMAIL:

UNITED VALUE UDYAM SURAKSHA POLICY

POLICY NO.:3005011124P113522025
UIN. IRDAN545RP0001V01202223

PERIOD OF INSURANCE
From 13:09 Hrs of 25/11/2024
To Midnight of 24/11/2025

Insured
MRS NABEESA
M/S K M CITY BAZAR IV/687 UPPALA KASARGODE
671322
KASARAGOD
KERALA

IMPORTANT NOTICE: KINDLY UPDATE YOUR AADHAAR NO. AND PAN/FORM 60. PLEASE IGNORE IF ALREADY UPDATED.

Agent Name : VINOD KUMAR K

Agent Code : AGI0005470
9447272323
Mobile/Landline Number/Email :
[email protected]

The genuineness of the policy can be verified through "Verify Your Policy" link at www.uiic.co.in.

For any Information, Service Requests, Claim intimation and Grievances please write to [email protected]

Download Customer App(www.uiic.co.in). REGD. & HEAD OFFICE, 24, WHITES ROAD, CHENNAI - 600014.
Website: http://www.uiic.co.in
Printed By : CUSTOMER @ 26/11/2024 9:47:44 AM

This document is digitally signed

Signer: KALAIVENI SUBBIAH

Date: Tue, Nov 26, 2024 09:47:48 IST
Location: United India Insurance Company Ltd
1 / 10 Reason: Signing Policy for UIIC
 POLICY NO.:3005011124P113522025
UIN. IRDAN545RP0001V01202223

UNITED VALUE UDYAM SURAKSHA POLICY

SCHEDULE

Policy No. 3005011124P113522025 Prev. Pol. No.

Name Of Insured MRS NABEESA / 23364857354
Tel.(O) Fax Tel.(R) Mobile
Business/Occupation Others Email
Period of Insurance From 13:09 Hrs of 25/11/2024 To Midnight of 24/11/2025

CO-INSURANCE DETAILS:
UIIC 300501 : 100%

Risks Covered Sum Insured( )

Contents 5,500,000.00

Net Premium: 3,109.00

CGST(9%): 280.00
SGST(9%): 280.00
Stamp Duty: 1.00
Total: 3,669.00
Receipt No: 10130050124115797499
Receipt Date: 25/11/2024

Agency/Broker Code: AGI0005470

VINOD KUMAR K
Stamp Duty Applicability : No Business Associate Code:
BAS22861
SAVIOUR M G

Deductible Where the total value at risk across all Insurable asset classes at loss location is less than or equal to Rs.5 Crores as on date of loss, an
excess of 5,000/- (Rupees Five Thousand) shall apply.
Where the total value at risk across all Insurable asset classes at loss location is greater than Rs.5 Crores as on date of loss, an excess of 5
% of each claim, subject to a minimum of 10,000 (Rupees Ten Thousand) shall apply

Financier Name Branch Name Agreement Type Loan Number

AXIS BANK LTD. Hypothecation

2 / 10
 POLICY NO.:3005011124P113522025
UIN. IRDAN545RP0001V01202223
Location/Risk Details :
Location Nam
Location Address Risk Description Item Type Item Description Sum Insured( )
e
Other Contents (Other t FOOD PRODUCTS AND
IV/687 UPPALA,KASARAGOD,KERALA,Pi Shops dealing in goods otherwis
UPPALA han Stocks) , Specific It OTHER CONSUMABLES 5,500,000.00
n-671322 e not provided for(1023)
ems ITEMS

The Insurance under this Policy is subject to clauses ( as listed )- AGREED BANK CLAUSE

Customer GST/UIN No.: Office GST No.: 32AAACU5552C1ZS

SAC Code: 997137 Invoice No. & Date: 1124I113522025 & 25/11/2024
Amount Subject to Reverse Charges-NIL

We hereby declare that though our aggregate turnover in any preceding financial year from 2017-18 onwards is more than the aggregate turnover
notified under sub-rule (4) of rule 48, we are not required to prepare an invoice in terms of the provisions of the said sub-rule.
Anti Money Laundering Clause:-In the event of a claim under the policy exceeding 1 lakh or a claim for refund of premium exceeding 1 lakh, the insured will comply
with the provisions of AML policy of the company. The AML policy is available in all our operating offices as well as Company's web site.

LET US JOIN THE FIGHT AGAINST CORRUPTION. PLEASE TAKE THE PLEDGE AT https://pledge.cvc.nic.in.

Date of Proposal and Declaration: 25/11/2024

IN WITNESS WHEREOF,the undersigned being duly authorised has hereunto set his/her hand at BO KALPETTA 300501 on this 25th day of November 2024 .

For and On behalf of CONSOLIDATED STAMP

United India Insurance Co. Ltd. DUTY PAID AS PER
GOVT.OF KERALA G.O.
(P)No:90/2024/TAXES
DATED 27.06.2024 FOR
THE PERIOD FROM
01.04.2024 TO
Duly Constituted Attorney(s) 31.03.2025

Underwritten By - SAVBAS22861 ( BO UNDERWRITER )

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 POLICY NO.:3005011124P113522025
UIN. IRDAN545RP0001V01202223
UNITED VALUE UDYAM SURAKSHA POLICY

You chose this United Value Udyam Suraksha Policy and applied to Us for insurance covers of Your choice. You paid Us the premium and gave Us information about
Yourself, Your Business and Your Property. Based on Your confirmation that this information is true and correct, and in return of accepting the Premium You have paid Us,
We promise to provide You insurance as stated in this Policy Document and the Policy Schedule attached to it.
Clause A. This Policy and the Insurance Contract
1. Your Policy: This United Value Udyam Suraksha Policy is a contract between You and Us as stated in the following:
i. This Policy document;
ii. The Policy Schedule attached to this Policy document;
iii. Any Endorsement attached to and forming part of this Policy document;
iv. Any Add-on to this Policy that You may have purchased from Us;
v. The proposals and all declarations made by You or on Your behalf;
2. To whom this Policy is issued and what it covers
i. This Policy is issued to You and covers Your Insured Property relating to Your Business as mentioned in the Policy Schedule where the total value at risk across
all Insurable Asset classes at one location is not exceeding 50 Crore (Rupees Fifty Crore) at the policy Commencement Date
Provided, if the value at risk for all Insurable Assets exceeds 50 Crore during the Policy Period, this policy shall, on expiry, be replaced by the applicable
policy.
ii. If more than one person is insured under this policy, each of You is a joint policyholder. Any notice or letter We give to any of You will be considered as given
to all of You. Any request, statement, representation, claim or action of any one of You will bind all of You as if made by all of You.
iii. If You have mortgaged, pledged or hypothecated any Insured Property with a Bank, the Policy Schedule will show an 'Agreed Bank Clause' and the name of
such Bank. The terms and conditions of this arrangement will be added to this Policy as an additional Clause.
3. The Policy Schedule: The Policy Schedule is an important document about Your insurance cover. It shows:
i. Your personal details,
ii. the Policy Period,
iii. the description of Your Insured Property,
iv. the total Sum Insured, the Sum Insured for each cover, or for each block, set or category of Insured Property, and its limits and sub-limits for each and
every location,
v. the insurance covers You have purchased,
vi. the Premium You have paid for these insurance covers,
vii. Add-on covers opted by You,
viii. other important and relevant aspects and information.
4. Special Meanings of certain words: Words stated in the table below have a special meaning throughout this Policy, the Policy Schedule and Endorsements.
These words with special meaning are stated in the Policy with the first letter in capitals.
Word/s Specific Meaning
Agreed Valu
An amount agreed between You and Us at the policy Commencement Date for items, the value of which cannot be ascertained.
e
Bank A bank or any financial institution
Any building or structure in Your Premises where You carry on Your Business.
It includes:
a. Basement (if any), all fixtures and fittings permanently attached to the floor, walls or roof like electrical wiring, antennas etc.
b. The following 'additional structures' located on Your Premises and used for Your Business, that are shown in the Policy Schedule:
i. garage, out-houses, security sheds, towers, verandah or porch, tanks, compound walls, retaining walls, fences, gates and internal roads,
Building
ii. lifts, hoists,
iii. solar panels, wind turbines and air conditioning systems, central heating systems, security systems and cameras, electrical installations, fire
alarm, fire sprinkler systems, power lines, power installations,
iv. water, gas and sewage pipeline within Your premises or
v. any other structure shown in the Policy Schedule.
Business Your commercial enterprise, trade or profession as shown in the Policy Schedule.
Commencem
It is the date and time from which the Insurance Cover under this Policy begins. It is shown in the Policy Schedule.
ent Date
Contents Those articles or things in Your Premises that are not permanently attached or fixed to the structure of Your Premises.
Endorsemen A written amendment to the Policy that We make (additions, deletions, modifications, exclusions or conditions of an insurance Policy) which may
t change the terms or scope of the original policy.
Excess It is the amount that You must bear in each and every claim before We become liable to pay.
All Buildings, Plant and Machinery, Furniture, Fixture and Fittings, Stock and all other Contents which, for the purposes of Your Business on any
Insurable As
one location, You own, or hold as tenant or occupant, or hold in trust or on commission, or are legally responsible for as part of Your trade, even if
sets
You have not taken insurance cover for any of them.
Insured Pro The Building, Plant and Machinery, Furniture, Fixture and Fittings, Stocks and any other Contents that are declared and insured by You under this
perty Policy, and are located in Your Premises unless specifically stated in this Policy. The Insured Property is shown in the Policy Schedule.
Kutcha Cons Building(s) having walls and/or roofs of wooden planks/thatched leaves and/or grass /hay of any kind/bamboo /plastic cloth/ asphalt/ canvas/
truction tarpaulin and the like.
Market Valu
Market Value means new Replacement/Reinstatement Value minus depreciation reckoned as on the date of loss.
e
Cash, bank and currency notes, credit cards, telephone cards, cheques, crossed bankers' drafts, postal orders, luncheon vouchers, current
Money postage stamps, trading stamps, National Savings Certificates, Premium Bonds, credit sales vouchers or receipts, unexpired units in franking
machines, gift tokens and consumer redemption vouchers belonging to You or for which You are responsible.
Partial Loss Any loss other than Total Loss.
All equipment, machinery, pipes and cables, spares, computers, servers and preloaded licensed system software located within any structure or in
the open area of Your Premises.
It includes
Plant and M
i. machines under repair,
achinery
ii. machines taken on hire or lease, or through any system of purchase of goods,
iii. foundation, bedding or setting of the machines, or
iv. accessories of machines.
Policy period means the period commencing from the effective date and time as shown in the Policy Schedule and terminating at Midnight on the
Policy Perio
expiry date as shown in the Policy Schedule or on the termination of or the cancellation of insurance as provided for in Clause G (III) of this
d
policy, whichever is earlier.
Policy Sched The document accompanying and forming part of the Policy that gives Your details and of Your insurance cover, as described in Clause A (3) of
ule this Policy.
The premium is the amount You pay Us for this insurance. The Policy Schedule shows the amount of premium for the Policy Period and all other
Premium
taxes and levies.

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 POLICY NO.:3005011124P113522025
UIN. IRDAN545RP0001V01202223
Pucca Const
Construction other than Kutcha Construction.
ruction
Reinstatement/Replacement is defined as:
Reinstateme i. the reconstruction of buildings or replacement of other property lost or destroyed.
nt/ Replacem ii. (b) the repair or partial replacement of property damaged.
ent In either case, to a condition substantially the same as but not superior, better or more extensive than its condition if it were new on the date it is
damaged or destroyed.
Reinstateme This is the amount at which the Insured Property can be reinstated or replaced by a similar property, without deducting depreciation, and to the
nt/ Replacem extent required to bring that Property to a condition substantially the same as, but not superior, better or more extensive than its condition if it were
ent Value new on the date it is damaged or destroyed.
Any stock of goods or merchandise. It may be:
i. Finished goods, semi-finished goods, stock in process, stock invoiced and ready for dispatch,
Stocks ii. Raw materials, packing materials, or
iii. Stock held in trust for which You are responsible.
iv. Stock in Open in the Insured Premises
The amount shown as Sum Insured in the Policy Schedule. It represents Our maximum liability for each cover or part of cover and for each loss,
Sum Insured
as applicable.
A situation where the Insured Property or item is completely destroyed, lost, or damaged beyond retrieval or repair, or the cost of repairing it, is
Total Loss
more than the Sum Insured of that item or in total.
We, Us, Our,
The United India Insurance Company that has provided Insurance Cover under this Policy; of the Company.
Insurer
You, Your, I The Insured Person/s, Company or other entity shown in the Policy Schedule who has/have purchased insurance cover under this Policy; of
nsured such Insured Person/s.
Your The premises in which You carry on Business that is occupied by You for the purposes of Business declared to Us and is reflected in the Policy
Premises Schedule
Clause B. Insured Events
We give insurance cover for physical loss or damage, or destruction caused to Insured Property by the following unforeseen events occurring during the Policy Period.
The events covered are given in Column A and those not covered in respect of these events are given in Column B.
Coloumn A Coloumn B
We cover physical loss or damage, or destruction caused to the
We do not cover for loss or damage, or destruction caused to the Insured Property by
Insured Property by
caused by
Fire, including due to its own fermentation, or natural heating, o
1. a. its undergoing any heating or drying process, or
r spontaneous combustion.
b. burning of Insured Property by order of any Public Authority.
a. caused to boilers, economizers or other vessels, machinery or apparatus in which steam is
2. Explosion or Implosion generated, or their contents, resulting from their own explosion or implosion, or
b. caused by centrifugal forces.
3. Lightning -
4. Earthquake, volcanic eruption, or other convulsions of nature -
Storm, Cyclone, Typhoon, Tempest, Hurricane, Tornado, Tsuna
5. -
mi, Flood and Inundation
caused by
a. normal cracking, settlement or bedding down of new structures,
b. the settlement or movement of made up ground,
Subsidence of the land on which Your Premises stand, Landslide,
6. c. coastal or river erosion,
Rockslide
d. defective design or workmanship or use of defective materials, or
e. demolition, construction, structural alterations or repair of any property, or ground works
or excavations.
7. Bush fire, Forest fire and Jungle fire -
Impact damage of any kind, i.e., damage caused by impact of, o
a. caused by pressure waves caused by aircraft or other aerial or space devices travelling at
8. r collision caused by, any external physical object (e.g. vehicle, fa
sonic or supersonic speeds.
lling trees, aircraft, wall etc.),
9. Missile testing operations -
caused by
a. total or partial cessation of work or the retardation or interruption or cessation of any
process or operations or omissions of any kind,
b. temporary or permanent dispossession, confiscation, commandeering, requisition or
10. Riot, Strikes, Malicious Damages
destruction by order of the government or any lawful authority, or
c. Permanent or temporary dispossession of any building or plant or unit or machinery
resulting from the unlawful occupation by any person of such building or plant or unit or
machinery or prevention of access to the same.
11. Bursting or overflowing of water tanks, apparatus and pipes, -
a. repairs or alterations in the Building in which Your Business is located,
12. Leakage from automatic sprinkler installations. b. repairs, removal or extension of any sprinkler installation, or
c. defects in the construction known to You.
if it is
Theft within 7 days from the occurrence of and proximately caus a. of any article or thing outside Your Premises, or
13.
ed by any of the above Insured Events b. of any article or thing attached from the outside of the outer walls or the roof of Your
Premises, unless securely mounted.
1. Loss for "valuable contents"
2. Loss or damage due to breakdown, electrical, electronic and/or mechanical derangement.
3. Loss, destruction or damage to the insured property premises caused by change of
temperature.
4. Loss or damage by spoilage resulting from the retardation or interruption or cessation of
any process or operation caused by operation of any of the perils covered.
14. Accidental physical damage to building /contents
5. Loss or damage due to termites, moths, insects, vermin, inherent vice, fumes, latent defect,
fluctuations in atmospheric or climatic conditions, the action of light.
6. Loss or damage due to collapse, settlement or bedding down, ground heave or cracking
of structures or the removal or weakening of support to any insured property.
7. Any loss or damage due to self-intentional destruction, and/or arising out of provocation
by the Insured or its authorized representative.
Clause C. The Standard Cover
1. What We cover
We cover physical loss or damage, or destruction of any Insured Property because of any Insured Event stated in Clause B of this Policy and subject to the

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 POLICY NO.:3005011124P113522025
UIN. IRDAN545RP0001V01202223
exclusions stated in Clause D of this Policy subject to all terms and conditions of this Policy. We also give In-built Covers without charging additional premium
which are stated in Clause C (4) of this Policy.
2. Basis of Sum Insured
i. for Building, Plant and Machinery, Furniture, Fixture and Fittings and any other contents: Reinstatement Value
ii. For Stocks:
ii.a. For raw material: landed cost at Your Premises.
ii.b. For stock in process: input cost of the stock at the time of loss.
ii.c. For finished stock: the manufacturing cost of the Finished Stock or the Contract Price of goods sold but not delivered and more precisely defined below.
Contract Price is in respect only of goods sold but not delivered, for which You are responsible and with regard to which under the conditions of the
sale, the sale contract is cancelled by reason of any Damage insured under this Policy either wholly or to the extent of the Damage. The Company's liability
shall be based on the Contract Price.

iii. Bullion or unset precious stones, any curios or works of art or obsolete machinery and the like are to be covered on Agreed Value basis subject to a valuation
certificate being submitted and found acceptable by Us.
3. Restoration of Sum Insured
Except as stated in Clause G (III) (3) (e) of this Policy, the insurance cover will at all times be maintained during the Policy Period to the full extent of the
respective Sums Insured. This means that after We have paid for any loss, the policy shall be restored to the full original amount of Sum Insured. You must pay to
Us proportionate premium for the unexpired Policy Period from the date of loss. We can also deduct this premium from the net claim that We must pay You.
Notwithstanding the above, the Sum Insured shall stand reduced by the amount of loss in case You, immediately on occurrence of the loss, exercise Your option
not to restore the Sum Insured.
4. In-built Covers
If We agree to pay Your claim for loss or damage to Insured Property, We will also pay for the following loss or damage and expenses.
a) Additions, alterations or extensions:
We cover Buildings, Plant, Machinery, and Furniture and Fittings, or other Contents which You will erect, or acquire, or for which You will become responsible,
after the Commencement Date, in the Insured Premises subject to Underinsurance provision of Clause F of this Policy.
b) Temporary removal of stocks:
We cover stocks temporarily removed to any other premises for the purposes of fabrication, processing or finishing, or other similar purposes as follows:
i. maximum cover will be 10% of the Sum Insured of Stock,
ii. such stock is not otherwise insured.
c) Cover for Specific Contents:We cover the following, as applicable:
i. Money for an amount not exceeding 50,000 (Rupees Fifty Thousand) during the policy period.
ii. Deeds, manuscripts and business books, plans, drawings, securities, obligations or documents of any kind, but only for the cost of the materials and clerical
labour expended in reproducing such records for an amount not exceeding 50,000 (Rupees Fifty Thousand) during the policy period.
iii. Computer programmes, information and data but only for the cost of the materials and clerical labour expended in reproducing such records for an amount
not exceeding 5 Lakh (Rupees Five Lakh) during the policy period.
iv. Employees', Directors', visitors' personal effects of every description (other than motor vehicles) for an amount not exceeding 15,000 (Rupees Fifteen
Thousand) per person for a maximum of 20 (twenty) persons during the policy period.
d) Start-Up Expenses:
We cover start-up costs necessarily and reasonably incurred by the insured in respect of the insured risk consequent upon a loss or damage covered by this
policy for an amount not exceeding 5 Lakh ( Rupees Five Lakh )during the policy period.
e) Professional fees:
We will pay the expenses that You incur towards reasonable fees of Architects, Surveyors and Consulting Engineers as follows:
i. The fees are paid for preparing plans, specification tenders and quantities, and services in connection with the superintendence of the reinstatement of the
Insured Building, Machinery, Accessories or Equipment;
ii. The maximum We pay is 5 % of the claim amount;
iii. We do not cover fees or costs for preparing any claim or estimate of loss or damage by the Insured Perils.
f) Costs for removal of debris, including foreign debris:
We will pay reasonable expenses You incur towards removal of debris, including foreign debris, from Your Premises, and dismantling, demolishing, shoring up
or propping up of Insured Building or Machinery. The maximum We pay is 10% of the claim amount.
g) Costs compelled by Municipal Regulations:
We pay such additional cost of reconstruction or reinstatement of the Insured Property that is incurred solely because You must comply with any regulations
or bye-laws of any municipal or local authority, or any provision of any State or Central Act, Rules or regulations. We cover these costs on the following
conditions:
i. You must commence the repairs, or reconstruction or reinstatement of the Insured Property, within a reasonable time after the date of damage or destruction.
You must complete the repairs, reconstruction or reinstatement within reasonable time, in any case not beyond 12 months from the date of damage of
destruction, or within such time as We may allow in writing.
ii. If Our Liability is reduced under any term or condition of this Policy, Our liability under this extension will also be proportionately reduced.
iii. All other terms and conditions of this Policy will apply to this extension.
iv. These costs will not include
a. the costs incurred for complying with such regulations,
- for destruction or damage occurring before Commencement Date,
- for destruction or damage not insured under this Policy
- under which You have received notice before the destruction or damage occurred.
b. any additional cost required to repair or reconstruct the Insured Property to a condition equal to its condition when new, had the need to comply with
the regulation not arisen.
c. the amount of any rate, tax, duty, development or other charge or assessment arising out of capital appreciation which may be payable in respect of the
Insured Property or by the owner thereof by reason of compliance with any of the aforesaid regulations or bye-laws.
Clause D. Exclusions, that is, what We do not cover
We do not cover losses or expenses, or any loss, damage to, or destruction of the Insured Property, directly or indirectly as a result of or if caused by or arising from
events, stated below:
1. i. Where the total value at risk across all Insurable asset classes is not exceeding Rs.5 Crores (Rupees five crore only) as on date of loss, an excess of Rs. 5,000
(Rupees Five Thousand) shall apply. This means that We will deduct Rs.5,000/- (Rupees Five thousand only) for each and every loss suffered by You under the
terms of this policy.
ii. where the total value at risk across all Insurable asset classes is exceeding Rs.5 Crores (Rupees five crore only) as on date of loss, an Excess of 5 % of each
claim, subject to a minimum of Rs. 10,000 (Rupees Ten Thousand). This means that We will deduct 5% of each claim, subject to a minimum of Rs.10,000/-
(Rupees Ten thousand only) for each and every loss suffered by You under the terms of this policy.
2. Your deliberate, wilful or intentional act or omission, or of anyone on Your behalf, or with Your connivance.
3. Loss, damage or destruction to any electrical/electronic machine, apparatus, fixture, or fitting by over-running, excessive pressure, short circuiting, arcing, self-
heating or leakage of electricity from whatever cause (lightning included). This exclusion applies only to the particular machine so lost, damaged or destroyed.
However, any ensuing loss or damage to other insured property due to operation of an insured peril is covered.
4. Loss, destruction or damage to the stocks in cold storage premises caused by change of temperature.
5. Loss, or damage by spoilage resulting from the retardation or interruption or cessation of any process or operation caused by operation of any of the Insured
Events.
6. Your Premises or any Insured Building remaining continuously unoccupied for a period of more than 30 days, unless You have obtained prior written approval
from Us and such approval is recorded as an endorsement on the Policy.

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 POLICY NO.:3005011124P113522025
UIN. IRDAN545RP0001V01202223
7. War, invasion, act of foreign enemy hostilities or war-like operations (whether war is declared or not), civil war, mutiny, civil commotion amounting to a popular
rising, military rising, rebellion, revolution, insurrection or military or usurped power.
8. onising radiation or contamination by radioactivity from any nuclear fuel or from any nuclear waste from combustion of nuclear fuel, or the radioactive, toxic,
explosive or other hazardous properties of any explosive nuclear assembly or nuclear component that is part of it.
9. Pollution or contamination, unless
i. the pollution or contamination itself has resulted from an Insured Event, in which case only physical damage to the Insured Property is covered, or
ii. an Insured Event itself results from pollution or contamination.
10. Loss, destruction or damage to bullion or unset precious stones, any curios or works of art unless such amount is declared separately and recorded in the Policy
Schedule.
11. Loss of any Insured Property which is missing or has been mislaid, or its disappearance cannot be linked to any single identifiable Insured Event.
12. Loss or damage to any Insured Property removed from Your Premises to any other place, except
i. machinery and equipment temporarily removed for repairs, cleaning, renovation or other similar purposes for a period not exceeding 60 days,
ii. Stock covered under Clause (C) (4.2) of this Policy.
13. Any reduction in market value of any Insured Property after its repair or reinstatement.
14. Loss or damage to any Insured Property or any claim which is covered by a marine policy in force at the time of loss or damage, except in excess of the limits of
that policy.
15. Any consequential or indirect loss or damage of any description, i.e. losses or extra costs (financial or non-financial) that follow or are a consequence of an
Insured Event, like, loss by delay, loss of income or wages or earnings, or of market, or of time, medical expenses, or any costs not covered by this Policy.
16. Costs, fees or expenses for preparing any claim.
17. Loss, damage cost or expense of whatsoever nature directly or indirectly caused by, resulting from or in connection with any act of terrorism regardless of any
other cause or event contributing concurrently or in any other sequence to the loss.
For the purpose of this endorsement an act of terrorism means an act, including but not limited to the use of force or violence and / or the threat thereof, of any
person or group(s) of persons whether acting alone or on behalf of or in connection with any organisation(s) or government(s), committed for political,
religious, ideological or similar purpose including the intention to influence any government and/or to put the public, or any section of the public in fear.
The policy also excludes loss, damage, cost or expenses of whatsoever nature directly or indirectly caused by, resulting from or in connection with any action
taken in controlling, preventing, suppressing or in any way relating to action taken in respect of any act of terrorism.
If the Company alleges that by reason of this exclusion, any loss, damage, cost or expenses is not covered by this insurance the burden of proving the contrary
shall be upon the insured.
In the event any portion of this endorsement is found to be invalid or unenforceable, the remainder shall remain in full force and effect.
Clause E. What We Pay
If any Insured Property is physically damaged, lost or destroyed, We will pay You as follows:
1. Partial Loss:
i. If any Insured Property is a Partial Loss, We will reimburse to You the cost of repairs to the extent required to bring that Property to a condition substantially
the same as, but not superior, better or more extensive than its condition if it were new on the date it was damaged.
ii. If any Insured Stock is a Partial Loss We will pay You to the extent of the loss of such Partial Loss.
iii. If Building or Plant and Machinery or Furniture, Fixture, Fittings is a Total Loss, We will pay You for The Reinstatement/Replacement Value of the Building or
Plant and Machinery or Furniture, Fixture, Fittings.
iv. Reconstruction of the new building on the same site, or another site. If You reconstruct the new Building or Reinstate the Plant and Machinery or Furniture,
Fixture, Fittings on another site We will not pay You more than what We would pay to reconstruct or replace on the same site.
v. Reinstatement using standard material readily available and in common use for similar type of Building.
2. If the Stock is aTotal Loss, We will pay You as follows:
i. landed cost as on date of loss at Your Premises for Stock of raw materials,
ii. total manufacturing cost for Stock of finished goods,
iii. the input value of Stock in process at the time loss,
iv. The Contract Price in case of goods sold but not dispatched, and lying within Your premises for which You are responsible under the terms of a contract of
sale. We will pay Your claim on the basis of the Contract Price, if the sale is cancelled wholly or to the extent of loss or damage caused by an Insured Event
covered by this Policy. For the purposes of this para, the value of all goods to which this basis of settlement could apply in the event of loss or damage will
also be ascertained on the same basis.
3. You must commence the repairs or Reinstatement within a reasonable time after the date of the damage or destruction. You must complete the repairs or
Reinstatement within reasonable time, in any case not beyond 12 months from the date of damage or destruction, or within such time as We may allow in writing.
4. If You fail to start the work of the repairs or Reinstatement within reasonable time, or to complete the repairs or Reinstatement within time We will pay Your claim
based on the Market Value of the Building, Plant and Machinery, Furniture, Fixture, Fittings as the case maybe.
5. We will pay the Market Value of the Building, Plant and Machinery, Furniture, Fixture and Fittings at the time it is a Total Loss, but not more than the relevant Sum
Insured,
i. if the Building cannot be Reinstated or rebuilt due to Municipal, State or Central law, rules, regulations or bye-laws,
ii. if You do not wish to Reinstate the Building ,Plant and Machinery, Furniture, Fixture, Fittings.
6. We will also pay other amounts mentioned in Clause C (4) of this Policy.
NOTE : In any claim, We will not pay more than the relevant Sum Insured , subject to Underinsurance as stated in Clause F of this Policy:
Clause F. Underinsurance:
1.The Sum Insured for each item of Insured Property must be sufficient to pay for Reinstatement/Replacement of that Property on the date of loss. If the
Reinstatement/Replacement Value of the Insured Property, in totality, including additions, alterations, erections and new acquisitions, is more than the Sum
Insured, except to the extent waived in Clause F (3) of this Policy, it amounts to underinsurance, and will reduce proportionate to the difference from the
amount that We will pay for Your claim.
Notwithstanding the above, if the claim is settled as per Clause (E) (4) i.e. on Market value basis, then If the Market Value of the Insured Property, in totality,
including additions, alterations, erections and new acquisitions, is more than the Sum Insured, except to the extent waived in Clause F (3) of this Policy, it
amounts to underinsurance, and will reduce proportionate to the difference from the amount that We will pay for Your claim.
2.Every item of Insured Property is subject to this condition separately.
3.Under this United Value Udyam Suraksha Policy, We will waive underinsurance upto 15%.
4.If at the time of damage the Sum Insured applicable to the relevant Buildings, Plant and Machinery, Furniture, Fixture, Fittings, Stocks and other contents is less
than 85% of the value of Insurable Assets, You will be responsible for the difference and You will bear a proportionate share of the loss.
5.Underinsurance will not apply to Cover for Specific Contents.
NOTE: The cost for Reinstatement of additions made to Insured Property during the Policy Period will be reckoned from the date of addition.
Clause G. Conditions
I)Your Obligations
1. Make true and full disclosure in the proposal and related documents
i. You have a duty of disclosure to tell Us everything You know, or could reasonably be expected to know, that is relevant to Us for deciding whether to give
You insurance cover and on what terms. You owe this duty to disclose such relevant material information even if We have not specifically asked for it. This
duty extends to any information or declarations given by anyone else on Your behalf.
ii. We have agreed to give You insurance cover entirely on the basis of the information You, or anyone on Your behalf, have given Us in the proposal,
statements and other declarations and documents (in writing or electronic) about Yourself, the Building, Plant and Machinery, Furniture, Fixture, Fittings,
Stocks and other Contents. The correct and complete information You give is the basis of Our contract with You. Our promise to pay is conditional upon the
truth of these statements and on the assumption that You, or anyone on Your behalf, has not withheld any material information about Yourself, the Building,
Plant and Machinery, Furniture, Fixture, Fittings, Stocks and other Contents.
2. Make true statements and full disclosure in the claim and related documents
You must also give true and full information in Your claim and submit true documents. If You give any false information or document in the claim, or if You
withhold any information or document (written or electronic), We have a right to refuse payment of Your claim. We may also cancel Your policy.

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3. Obligation to take care: You must:
i. ensure that unauthorised persons do not occupy Your Premises.
ii. whenever Your Premises or any Building in Your Premises is unoccupied, You must ensure that all security procedures on Your Premises are in force.
4. Inform change in circumstances:
You must inform Us immediately if:
i. You change the nature of Your Business or any processes,
ii. You let out Your Premises or any part, or Your Premises will no longer be solely occupied by You
iii. You change the use of Your Premises or any Building,
iv. Your Premises or any Building remains unoccupied for more than 30 days.
5. Allow inspection and investigation of claim
You must allow and give full cooperation for the survey/investigation of Your claim by Us. You must allow Us, and any surveyor, officer or other
representative that We authorise, to enter Your Premises, inspect it, take photographs and where required, permit the scientific testing and investigation of any
insured article affected by the insured peril, You must answer all questions asked regarding Your claim truthfully and completely, and submit all documents that
We will require.
6. Follow claim procedure
When You suffer any loss or damage to any Insured Property, and wish to make a claim, You must follow all steps stated in this Policy about immediate
reporting to Us and to the appropriate Legal Authorities as per Clause G (IV) of this Policy.
II) Renewal of Policy
1. End of Policy: This Policy will expire at the end of the Policy Period.
2. Application for renewal:If You wish to renew the Policy, You must apply for renewal before the end of the Policy Period and pay the required
premium amount.
3. Renewal is not automatic:We may seek relevant information from You for the purpose of renewal. We can reject Your renewal only on grounds of
mis-representation, non- disclosure of material facts, fraud or non-co-operation on Your part.
III)Cancellation and Termination of Policy
1. Cancellation by You at any time
a. You can cancel this Policy at any time by giving Us notice in writing. The Policy will terminate when We receive Your notice.
b. If You cancel the Policy, We will refund premium as follows:
Period Refund percentage
Within 3 months 50% of premium
More than 3 months but Within 6 months 25% of premium
More than 6 months No refund
2. Cancellation by Us
We will not cancel the Policy during the policy period except on the grounds of mis- representation, non-disclosure of material facts, fraud or non-co-
operation of the insured.
3. Automatic termination of the Policy:
This Policy will automatically end in the following cases:
a. Destruction of any Insured Building: This Policy will automatically end 7 (seven) days after any Insured Building collapses or is displaced or
destroyed by reason other than any Insured Event. If a separable part of any Insured Building falls down or is destroyed by reason other than any
Insured Event, the cover will end for such part or additional structure.
b. You can apply within 7 (seven) days of such fall or destruction for continuing insurance cover. We may agree, but will not be bound, to continue the
cover on revised rates, terms and conditions.
c. Change of use or ownership of Insured Property: The Policy will end in regard to the Insured Property affected, unless You have obtained Our
prior consent in writing as an Endorsement on the Policy,
c.i. if You change the trade or manufacture, or the nature of Your occupation, or You change other circumstances relating to the Building or a building
containing any Insured Property in such a way as to increase the risk of loss or damage by Insured Events;
c.ii. if Your interest in any Insured Property passes to another except by will or operation of law.
d. Sale of Insured Property: This Policy will end when You sell, surrender or release Your interest in any Insured Property or its part.
e. Exhaustion of Sum Insured: If any Insured Property is lost, destroyed or stolen, or is a Total Loss, and We pay You the full Sum Insured for such item,
the insurance cover for that item will automatically end. If We pay the total Sum Insured for any claim, this Policy will end.
f. Effect of death: If You are an individual, in the event of Your unfortunate death the Insurance Covers that You have purchased will continue for the
benefit of Your legal representative/s during the Policy Period subject to all the terms and conditions of this Policy.
g. Policy not invalidated: The Policy is not invalidated:
g.i. by transfer of Your interest in the Policy by operation of law, if that occurs during the Policy Period. We can continue this policy on same or
modified terms in favour of Your legal representatives if they apply for this purpose within 30 days of such transfer;
g.ii. by any act, omission, or alteration unknown to You, or beyond Your control, that increases the risk of loss or damage, if You give notice to Us
immediately when You become aware of the act, omission or alteration, and pay additional premium if required; or
g.iii. if Your employees or workmen carry out repairs, maintenance work or minor alterations in the Insured Property.
IV) Claims Procedure
If You suffer a loss because of an Insured Event, You must make a claim for Your financial loss at Your cost. The procedure for making a claim is given
below. These include things that You must do, and that You must not do. It is important to comply with these to ensure that it does not prejudice Your
claim in any manner.
1. Immediate notice to Us
a. As soon as any loss or physical damage occurs to any Insured Property due to an Insured Event, You must immediately give notice to Us of the loss or
damage. This is necessary so that We can survey/investigate the loss or damage.
b. You can give notice to any of Our offices or call centers.
c. You must state in this notice
c.i. the Policy Number,
c.ii. Your name,
c.iii. details of report to the police that You made,
c.iv. details of report to any Authority that You made,
c.v. details of the Insured Event,
c.vi. a brief statement of the loss,
c.vii. particulars of any other insurance of the Insured Property, Your Premises or any other Property on Your Premises,
c.viii. details of loss or damage under Add-ons, if any, and
c.ix. submit photographs of loss or physical damage, wherever possible.
2. Steps to prevent loss and damage
a. You must take all reasonable steps to prevent further loss or damage to the Insured Property.
b. Until We have inspected the Insured Property and Your Premises, and have given Our consent,
b.i. You must not sell, give away or dispose of any damaged items of any property,
b.ii. You must not wash or clean, or remove any damaged item or debris, except for any urgent necessity, and
b.iii. You must not carry out repairs unless such repairs are urgent and You cannot contact Us.
3. Immediate notice to authorities
a. As soon as any loss or damage occurs to the Insured Property, You must give immediate report to appropriate legal authorities. For example, You must
report to the fire brigade of the local authority and the police if there is damage by fire/ explosion / implosion or lightning. In case of subsidence
/landslide/rockslide, You must inform the District Administration. In the event of impact damage of any kind or Riot Strikes, Malicious acts and acts of
terrorism, You must inform the police. If there is a theft within 7 (seven) days following an Insured Event, You must inform the police.

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b. We may but not necessarily, waive this condition if We are satisfied that by reason of extreme hardship it was not possible for You or any other person
on Your behalf to give such report.
4. Submit Claim
i.
a. You must submit Your claim in Our claim form at the earliest opportunity, but within 30 days from the date You first notice the loss or damage. The
claim form is available in any of Our branches, and on Our web-site.
b. You must state in Your claim the details of any other insurance policy that covers the damage or loss for which You have filed Your claim, whether You
have purchased such other insurance, or someone else has purchased it for You.
ii. We shall not be liable for any loss or damage after the expiry of 12 months from the happening of the loss or damage unless the claim is the subject of
pending action or arbitration. If We disclaim liability for a claim You have made and if the claim is not made a subject matter of a suit in a court of law
within a period of 12 months from the date of disclaimer , the claim shall not be recoverable hereunder.
5. Establish loss
You must prove that the Insured Event has occurred, and the extent of loss or physical damage You have suffered with full details,
i. You must support Your claim for Insured Property with plans, specification books, vouchers, invoices pertaining to costs incurred by You for
reconstruction/replacement/repairs.
ii. You must allow Us, Our officers, surveyors or representatives to inspect the Insured Property, and to take measurements, samples, damaged items or
parts, and photographs that are relevant.
iii. You must give Us authority to see the relevant records and get information about the Event and Your loss from the police or any other authority.
iv. You must give Us when We request any additional information that We require for verifying Your claim.
6. Fraudulent claim
If You, or anyone on Your behalf, make a false or fraudulent claim , or support a claim with any false or fraudulent statement or documents:
i. We will not pay the claim,
ii. We can cancel the Policy: in such a case, You will lose all benefits under this Policy and premium that You have paid, and
iii. We can also inform the police, and start legal proceedings against You.
7. Other insurance
i. If You have any other policy with Us or any other Insurance Company (taken by You or by anyone else for You) covering in whole or in part any
claim that You have made under this Policy, You have a right to ask for settlement of Your claim under any of these policies.
ii. If You choose to claim under this Policy from Us, We will settle Your claim within the limits and the terms and conditions of this Policy.
iii. After We pay the amount under Your claim, We have the right to ask for contribution from the Insurers that have given You the other policies.
iv. We will ensure that Our actions do not impose any liability on You.
8. Our rights relating to Insured Property
i. We must investigate/survey that Your claim is covered by this Policy. For this purpose, We will give You notice and request Your cooperation as
follows:
a. We and Our representatives will visit Your premises, inspect the Insured Property
b. We will ask You to give to Us any items of the Contents of Your premises for the purposes examination, testing, or any other investigation,
c. We will dispose of or deal with or sell any item of the Contents of Your Premises for which loss We have paid completely.
ii. We will ensure that Our actions will not impose any liability on You.
9. Recovery action by Us
i. When We accept and pay Your claim under the Policy, We can start legal proceedings to recover the amount or property from the third party who
has caused the loss or damage to Your Insured Property. You must give authority to Us to take such action and exercise this right effectively, when We
request You, whether before or after making payment of Your claim. You must give all information, cooperation, assistance and help for this purpose.
You must not do anything which will prejudice Our right.
ii. Any amount We recover from such person will be applied first to the costs of the legal proceedings and recovery, then to the claim amount We have
paid or must pay to You. We will pay You any balance.
iii. You can start legal proceedings against any person who has caused the loss or damage only with Our prior consent, and on conditions that We will
impose. You must not compromise or settle any claim against such person without Our consent. If You recover any amount from such person, You
must return to Us the amount We have paid for Your claim. We can take over the conduct of legal proceedings that You have started and continue the
proceedings in Your name.
Clause H Changes to covers
1. You can choose to make changes to the covers of this Policy, for example, take additional cover, or increase or reduce any Sum Insured. You must make a
proposal or request for any change. It will be effective only after We have accepted Your proposal, and You have paid the additional premium where applicable.
2. This Policy (including the Policy Schedule, the proposal, declarations and the Endorsements) consists of the entire contract between You and Us.
Clause I. Other details
1. Designation of Insured Property
For the purpose of determining under which item any Property is insured, We agree to accept the designation under which such Property appears in Your
books of account.
2. Notices
i. We will send any notice, letter or communication in writing to You at Your address mentioned in the Policy Schedule, and to Your email address that You have
registered with Us.
ii. You will send any notice, letter, intimation or communication in writing to Us at the branch office where You purchased the Policy. You can also send it at the
address mentioned in the Policy Schedule. You shall not send any notice etc. to the insurance agent, broker or any other entity. They are not authorised to
receive notices etc. on Our behalf.
3. Applicable law and jurisdiction
This Policy will be subject to the laws of India, and to the jurisdiction of courts in India.
4. Arbitration
If any dispute or difference arises between You and Us regarding the amount of claim to be paid under this policy (liability having been admitted by Us), such
difference shall independently of all other questions, be referred to the decision of a sole arbitrator to be appointed in writing by You and Us or if You and We
cannot agree upon a single arbitrator within 30 days of either of Us opting for arbitration, the same shall be referred to a panel of three arbitrators comprising of
two arbitrators, one to be appointed by each of Us, to the dispute/difference and the third arbitrator to be appointed by such two arbitrators and arbitration
shall be conducted under and in accordance with the provisions of the Arbitration and Conciliation Act, 1996.
Clause J. Grievances
If You have a grievance about any matter relating to the Policy, or Our decision on any matter, or the claim, You can address Your grievance as follows:
1. Our Grievance Redressal Officer
You can send Your grievance in writing by post or email to Our Grievance Redressal Officer at the following address:
Chief Grievance Redressal Officer
#19 Nungambakkam High Road, IV Lane, Chennai - 600034
E-mail: [email protected]
2. Consumer Affairs Department of IRDAI
a. In case it is not resolved within 15 days or if You are unhappy with the resolution You can approach the Grievance Redressal Cell of the Consumer Affairs
Department of IRDAI by calling Toll Free Number 155255 (or) 1800 4254 732 or sending an email to [email protected]. You can also make use of IRDAI's
online portal - Integrated Grievance Management System (IGMS) by registering Your complaint at igms.irda.gov.in.
b. You can send a letter to IRDAI with Your complaint on a Complaint Registration Form available by clicking here. You must fill and send the Complaint
Registration Form along with any documents by post or courier to General Manager, Insurance Regulatory and Development Authority of India(IRDAI),
Consumer Affairs Department- Grievance Redressal Cell, Sy.No.115/1, Financial District, Nanakramguda, Gachibowli, Hyderabad-500032.
c. You can visit the portal http://www.policyholder.gov.in for more details.
3. Insurance Ombudsman

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You can approach the Insurance Ombudsman, depending on the nature of Your grievance and the financial implications, if any. Information about Insurance
Ombudsmen, their jurisdiction and powers is available on the website of the Insurance Regulatory and Development Authority of India (IRDAI) at
www.irdai.gov.in, or of the General Insurance Council at www.generalinsurancecouncil.org.in, the Consumer Education Website of the IRDAI at
http://www.policyholder.gov.in, or from any of Our Offices.
Clause K. Information about Us
United India Insurance Company Limited
#19, Nungambakkam High Road, IV Lane, Chennai - 600034
Ph :91-044-28575200
Web: uiic.co.in
Customer Service: [email protected]

AGREED BANK CLAUSE

If You have mortgaged, hypothecated or created any security over Your Home or any of its Contents in favour of a Bank, and the Bank has an interest in the Policy, the
name of such Bank will also be shown in the Policy Schedule under the title 'Agreed Bank Clause'. If You choose to add the name of such Bank at any time during the
Policy Period, this will be shown as an Endorsement.
Under this Clause You agree as follows:
i) We shall pay to the Bank the entire amount that We are liable to pay under this Policy. Such Bank will receive it for its own demand, and as agent for any other person
interested in the amount.
ii) When We pay the amount to the Bank, Our liability under this Policy will be discharged, and will be binding on all of You and all persons named as the insured.
iii) Any notice or communication We make to the Bank under the provisions of this Policy shall be sufficient notice or communication to You.
iv) Any settlement or compromise that We make with the Bank will be binding on You and all persons named as the insured. However, such settlement or compromise will
not affect the rights of the Bank to recover any amount from You or any other person.
v ) If You make any change in the use of Your Home or sell or transfer the Insured Property, such actions will not prejudice the interest of the Bank under the Policy and
this clause, unless the condition has been broken by the Bank or its employees.
vi) If You commit any act or omission that will increase the risk, the insurance cover will not be invalidated. However, the Bank shall notify Us of any change or ownership,
or alterations and increase in risks as soon they become known to the Bank, and shall pay additional premium from the time of such change.
vii) When We pay the amount to the Bank, We will become legally and automatically subrogated to all rights of the Bank to the extent of such payment. This will not impair
or prejudice the rights of the Bank to recover any amount from You or any other person.

N.B: The Bank shall mean the first named Financial Institution/Bank named in the policy.

This is a system generated document and any manual alteration / correction / overwriting in the document will make it invalid.

(ARCHIVED POLICY)

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