PAR policy provides you with a broader coverage than (FAP). This insurance policy covers accidental loss or damage to your insured property. The scope of cover is limited by a set of exclusions. Some of the important exclusions are:

• Electrical, mechanical breakdown
• Deterioration of property due to change in temperature or humidity or inadequate air-conditioning, cooling or heating system.
• Subsidence, ground heave, land slip, erosion, settling or crack-ins.
• Damage to equipment during installation or dismantling operations.
• Property in course of construction or erection.
• Property in course of manufacture.
• Money, cheques, securities of all kinds etc.
• Contamination, pollution, wear and tear and corrosion.
• Loss resulting from dishonesty, fraudulent action, infidelity.

The cover can be extended to include loss of income following an interruption of business activity due to damage to property by a peril not specifically excluded under the policy.

PAR cover is suitable for large, commercial and industrial risks.