Educational Institution Insurance
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Educational Institution Insurance Advantage
Property Protection
Package policy
will cover your institution property against the losses from
fire, lightning, riots, flood, earthquake, storm and other
special perils. The electrical and mechanical appliances in
the premises will be covered against the accidental
breakdown. This policy will provide protection to the
portable equipment against fire , theft or any other causes.
Secure Your Students
Cover your
students against the risk of any accident leading to
permanent partial disability, permanent total disability or
even death. Also the student’s health is secured under this
policy as this policy will pay for hospitalisation expenses
of the students. This insurance can also pay for the
education of the child if a parent dies. The premium can be
paid annually.
Cover Your Staff
Employees can be
covered in this policy in case of any personal accident
leading to disability or death. This package policy also
protects you from the legal liability to all employees under
Workmen Compensation Act, 1923 and indemnity against legal
liability under the Fatal Accidents Act, 1855.
Public Liability Cover
Cover yourself
against the third party liability due to any bodily injury
occurring in your premises or, loss or damage to the
property. This policy will also cover you against direct
financial loss suffered on account of fraud, dishonesty or
misappropriation by your employees.
Why Claims Get Rejected?
Fraudulent Information
If you provide false information in the proposal form or make a fraudulent claim the Insurance becomes void and all claims forfeited. Claims can also be denied if you hide or omit material facts to reduce premium.
Exclusions
Sometimes the claim gets rejected because the cause of these claims is not covered in the policy. Some of the general exclusions in educational institution package policy are willful act or negligence, warlike operation and civil commotion, nuclear perils and consequential losses.
Non-Disclosure
Non-disclosure of important information may cause the Insurer to deny the claim. For example, if you do not disclose that you have a boarding hostel. This can range from an inadvertent omission that was important to deliberate lapses to reduce your premium.
FAQs
Educational Institution package
policy provide wide range of cover to mitigate the risk to your
property. This policy is developed specifically for educational
institutions and covers risks such as fire, burglary, business
interruption and accidental damage.
This policy is specifically
designed for education and school business. This policy can be
taken by educational institutions including private and charter
schools.
Some perils like fire, lightning,
earthquake, explosions and implosions, riots, storms and flood
are covered under this policy.
The common exclusions under the
policy are consequential losses, willful negligence and loss
arising out of terrorism
In case you want to file the claim, you must do the following:
- Inform the insurer within 24 hours of the damage.
- Inform the police in case of theft and burglary.
- Inform fire brigade immediately in case of fire.
- Submit the claim forms and relevant documents to surveyor.
