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All Risk Insurance

 
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All Risk Insurance policies are broad and all-encompassing types of cover that are designed to be as all-inclusive as possible. Most types of insurance policies are designed to cover assets in specific and predetermined cases of damage or loss. All risk insurance is a type of cover that is non-specific by nature. Rather than having to specify how an asset might incur damage or loss, it covers all variables.

When taking out an all risk insurance policy, it is possible to specify exclusions. You may want to exclude a certain type of coverage. If you are certain that your assets are at no risk from certain threats, then this type of policy allows the holder to exclude this type of risk in the policy specifications.

When initiating an all risk insurance policy, you will be required to specify all the equipment that will be under the policy.  This includes items such as cell phones, laptops, tablets / pads, etc. Because this policy is designed to follow you to where ever your work takes you, it is essential that all items that are kept on your person be specified in this policy. Apart from regular items that are carried by many people, the specific tools for your trade are required to be listed as well. Lets use a quantity surveyor as an example. This individual might use a camera, cell phone, iPad and laptop. These are all regular items that would be specified and insured under an all risk insurance policy. There would also be trade-specific equipment such as range finders and levelling instruments that this professional would carry with themselves between the work site and the office. All of these items would be listed under a business all risk policy and be covered accordingly.

Compendium’s all risk insurance offers worldwide cover, at an affordable rate, for every business need. Allow us to assist you in your strive for total asset security.




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