Lift Insurance

Lift
Insurance

 Lifts
installed in the office or residential buildings and used for carrying
passengers and

goods may be
insured under this class of insurance.

 An insurance policy designed for owners of
passenger lifts in buildings to take off their liabilities arising out of the
use and operation of the lifts. Policy provides indemnity for the legal
liability of the insured for payment of compensation to third parties for loss
of life or bodily injury or for the damage to the third-party property. Legal
expenses incurred by the insured with the consent of the insurer for defending
any legal action against the former by such third parties will also be payable
under the policy. The policy will contain two limits one for any one accident,
and another for all the claims during the period of the policy which will
represent the insurer’s maximum liability.

 Scope of Cover:

1.    Damage by Breakdown: – Covers
damage to all parts of a lift up to and including the main switch or circuit
breaker adjacent to the motor generator

2.   
Liability to Third PartyLift Insurance

 Lifts installed in the office or residential buildings and used for carrying passengers and

goods may be insured under this class of insurance.

 An insurance policy designed for owners of passenger lifts in buildings to take off their liabilities arising out of the use and operation of the lifts. Policy provides indemnity for the legal liability of the insured for payment of compensation to third parties for loss of life or bodily injury or for the damage to the third-party property. Legal expenses incurred by the insured with the consent of the insurer for defending any legal action against the former by such third parties will also be payable under the policy. The policy will contain two limits one for any one accident, and another for all the claims during the period of the policy which will represent the insurer’s maximum liability.

 Scope of Cover:

1.    Damage by Breakdown: – Covers damage to all parts of a lift up to and including the main switch or circuit breaker adjacent to the motor generator

2.    Liability to Third Party.