General Property insurance is a flexible product that can provide both Damage and Theft coverage under the one policy. It also provides coverage for an item insured anywhere in Papua New Guinea.
This type of insurance is common for more expensive type items that you may use in your business. Typically, with finance, there is a requirement to maintain insurance as well.
The types of items that can be insured are wide and varied and range from what could be termed normal to the more obscure.
A potential list of items that could be insured under General Property coverage is as follows:
- Tools of Trade
- Surveying Equipment
- Mobile Medical
- Mobile Electronic
- Photographic
- Sports Equipment
- Theatrical
- Exhibitions
Other items that can be insured include:
- Photo Booths
- Jumping Castles
- Large Blow-Up Marketing dolls
- Segways
- Scooters
Additional optional benefits can also be provided including coverage for Hired in Equipment.
What is NOT Covered
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- Certain types of accidental damage
Damage caused by general wear and tear, data processing failure, computer viruses, vermin, mould, mildew or flood. Items damaged from being left in the open air.
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- Theft in the open air
Theft of property that’s located in the open air, under an open-sided structure, under a carport, on a patio or verandah.
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- Consequential loss
Any loss of earning capacity, loss of use or other consequential financial losses related to insured damage under the General Property cover. For example, if your revenue is reduced due to damage to an item insured under General Property, you won’t be insured for the loss of revenue under this cover.
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- Certain types of property
Money, glass, jewellery, sporting equipment, works of art, trailers, caravans, livestock and animals are just a few of the types of property we don’t cover.
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- Motor vehicles
Any type of cover for motor vehicles including ride on mowers, trailers and caravans.
As Insurance is a complex subject, please talk to us now for professional advice and to make sure your level of coverage is appropriate, adequate, and sufficient to your requirements.
The List of Risks or the range of insurances available is not exhaustive, if there are any particular risks that are possibly unique to your type of business and/or for any specific or special requirements, please seek our assistance and guidance.