Insurance policies applied to manufacturing plants

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Manish Goyal (Querist)
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20 December 2009 What all kind of insurance policies a manufacturing unit must take.

What should be basis for insurance coverage value.

CA SURENDRA KUMAR RAKHECHA

CA SURENDRA KUMAR RAKHECHA (Expert)
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20 December 2009 Fire, Earthquake, Machine Breakdown, Loss of Profit Policy etc. can be taken by a mfg. unit.

Insurance coverage value is dependant on the present "market value" or book value of the asset to be insured.

Care should be taken to cover the whole part of assets' value. Otherwise average clause is applicable and at the time of claim you will get only that percentage of claim which you have insured.

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