At Laser Insurance, we are dedicated to creating strong relationships with our stakeholders in mitigating risks through a sustainable approach through how we handle and deal with customers.

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+254 795 555 822 CPF House, 2nd Floor, Haile Selassie Avenue info@lib-insurance.co.ke
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Office All Risk

About Cover

All Risks insurance provides indemnity against accidental loss or damage to specified items as a result of any cause (including fire) within the geographical area specified in the policy. Items under this policy include portable office equipments, laptops, scanners, smaller printers, cameras and other similar light equipments. Coverage may be extended to personal effects of senior employees while traveling on company business e.g. Laptops.

Building - (If building is to be insured) - The current cost of reconstruction of the building to the original form less deduction justified for betterment.

Plant & Machinery - The cost of replacement with a new item less deduction for depreciation due to wear and tear.

Finished goods : the cost of raw materials plus production cost

Other items provided they are listed (this are items that are normally covered under the Burglary policy

Stock In Trade

Guidelines

The insured may chose whether the policy will be on replacement of value or indemnity basis.

Replacement policy is where the value of the item insured is compensated in the event of a loss without subjecting the same to a further depreciation.

Indemnity is where the insured is returned to the state they were before the loss. In other words the estimated market value of the item lost after depreciation is reimbursed.

For new items that are below 3years old, it is advisable to insure them on replacement.

Where items of jewellery and works of art are to be insured, this can be covered on 'agreed value' basis such that in the event of total loss, the amounts set against specified items is paid in full. However, here the insurer will generally require a valuation report prepared by professional valuers to be produced when the cover is being effected.

Requirements for quotation

A schedule of the items (or asset register) is to be provided including

Make

Model

Serial No

Date of Purchase

Value of each item

The cover may be extended to cover riot and strike at additional premium. The Territorial limits may be restricted to Kenya but extensions can be requested to Worldwide.

Learn how to protect yourself, family, assets and business

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