This Policy shall be void and all premium paid hereon shall be forfeited to the Company in the event of misrepresentation, misdescription, or nondisclosure of any material particular.
If at the time of any loss or damage covered by this Policy there shall be any other Insurance covering the same risk whether affected by the Insured or not, then the Company shall not be liable for more than its rateable proportion thereof.
If any claim under this Policy shall be in any respect fraudulent or if any fraudulent means or devices are used by the Insured or anyone acting on the Insured's behalf to obtain any benefit under the Policy, all benefits under the Policy shall be forfeited.
Policy deductible : Rs.50 for each damage claim.
Depreciation would be applicable to all claims. The claim compensation on theft and damage would be reduced according to the following table:
- 0 to 3 month: 15%
- 3 to 6 month: 20%
- 6 to 12 month: 30%