The cover extends to include damage to the premises caused by burglars. It is therefore important to include cover for plant and machinery for industrial premises.
It is also important to extend the policy to include riot and strikes.
The basis of settlement of claims is depreciated values and for stock the cost of replacement of stock. However, the policy can be extended for plant and machinery and equipment to be on replacement value basis.
It is the responsibility of the insured to give the accurate sum insured based on the type of settlement he expects.
