Designed precisely to provide Takaful cover mainly against the risks of fire or lightning whilst the boat/vessel is under construction.
• Loss or damage arising from explosion
• Riot and Strike
• Malicious damage
• Aircraft and other aerial device
• Bursting or overflowing of water tanks
• Apparatus or pipes
• Impact by road vehicle
• Volcanic Eruption
• Typhoon and windstorm and flood arising there from
Standard exclusions of this policy are; theft during or after occurrence of fire, loss or damage caused by burning of property by order of any public authority, loss or damage caused by any subterranean fire, loss or damage caused by nuclear reaction and radioactivity. Cover ceases once the vessel is launched.
DOCUMENTS REQUIRED FOR APPLICATION?
• Proposal form
• Vessel’s registry copy
• Owner’s ID card copy/Company registry copy
• If mortgaged, copy of loan agreement.