MBD Policy - Coverage and Exclusions

[@plant_lover_next_door]

Thanks for this succinct presentation, which is technically enriching as well as in the flow of conversation... so rare to come across such study material which really holds one's focus!

[@saurabhootara]

Thanks Sir. I attended this session live. Thanks for uploading it here... Got facts refreshed.

[@aappmm112233]

We are blessed to find your session on you tube..very high quality delivery.Many regards.

[@VPinsupedia]

you can also join my WhatsApp group using following link to verify your date today doubts and queries in respect of fire engineering and reinsurance related issues. chat.whatsapp.com/Gb5xhKfteZXC5JiqiG5NYJ

[@savitapotu2163]

Thank you Sir for very clear explanation of the subject

[@pinakipaul2922]

Thank you Sir. Very clear & nice presentation. Rgds Pinaki Paul, SLA, Aassam.

[@travelwithpriyaranjan2993]

Sir, please make a video on How to calculate RIV?

[@VPinsupedia]

In case of machinery the RIV will be cost of replacement of machinery by a new machine of same make and model as on date of loss. For buildings it is the reconstruction cost of same type of building which is damaged. If the reconstruction is done after some time but not later than 12 month from date of loss, the reinstatement cost as on date of reconstruction shall be taken into account subject to maximum of sum insured of building as shown in policy.

[@talhasikhaifarooqsikhai1223]

Great Sir 👌👌

[@VPinsupedia]

if you share your WhatsApp number I will add you in my broadcast group where are important messages related to fire and Engineering insurance are shared amongst all group members

[@livechoiceconsultancy2796]

I Have Given Doubt. Kindly Clarify Please. 1. What Is Difference Between Ordinary Freight And Air Freight Extension In MBD Policy ? 2. Can MBD Policy Cover Ordinary Air Freight ? 3. What Is Emergency Air Freight ?

[@gautammukherjee6663]

Thanks so much Sir

[@rajatsomani6341]

Hi Sir. Thank you for the effort you're putting in making these videos to educate us. Can you please explain what is the "First Loss basis" that you have mentioned at 5.45

[@VPinsupedia]

first loss basis means policy has to be given for full value of machinery and losses are payable up to the policy sum insured without any loss limit

[@rajatsomani6341]

@@VPinsupedia Okay. Thank you sir

[@Slc3.2]

Thankyou sir

[@anandarajs9171]

Which policy covedsGarment Sewing machines ? MBD or EEP?

[@VPinsupedia]

Garment sewing machine will be covered under MBD policy.

[@parassikka17]

Hello Sir, can you please tell limited life component eg..?

[@VPinsupedia]

in diesel engine piston, valves or other components which require replacement before expiry of machinery.

[@insuranceconsultantalltype2930]

sir in sonography machine probe is operating media or not?

[@VPinsupedia]

No

[@vibhamulye2501]

Please let us know if mechanical derrangement is covered

[@VPinsupedia]

yes covered

[@vibhamulye2501]

@@VPinsupedia thank sir for replying

[@anirushaa]

Sir, are 'limited life components' defined? Who or what decides whether a component has 'limited' life or not?

[@VPinsupedia]

it appears that you have not gone through my video carefully because your question has been properly answered while explaining the depreciation component.

[@VPinsupedia]

please go through the depreciation component once again and still if you have a query please let me know

[@anirushaa]

Yes Sir. I went through the particular part of video explaining Limited life components. It is as given by the manufacturer. Thank you.

[@machone2858]

What is the difference bw faulty operation & willfull negligence

[@VPinsupedia]

loss or damage to property due to faulty operation by operator is payable under the policy where else wilful negligence is excluded. wilful negligence is an act of insured or his employee to carry out operations in negligent manner intentionally/ willfully which cannot be covered under any policy.

[@machone2858]

@@VPinsupedia dear sir thank you for your kind reply ..it is a pleasure to learn from you. I am also an Insurance Surveyor with more thn 8 years of practice in Fire, Marine & Engineering domain. Want to learn more from you. How can I meet/contact you for my queries Sir?

[@MJ-uz5ru]

How the claim will be settled in case of partial and total loss?

[@VPinsupedia]

Partial loss claims will be settled after application of depreciation only on limited life components like piston, piston rings etc. Repairing charges will be paid in full. Components having full life that means they are not required to be changed during the lifespan of machine, will not attract any depreciation. All claims would be subject to application of underinsurance if the sum insured is lower than the current replacement value of the machinery which is the requirement of MBD policy. In case of total loss the claim will be settled on market value basis subject to maximum of sum insured selected in policy.

[@MJ-uz5ru]

@@VPinsupedia thank you sir for your input. Please also confirm in case of total loss, will deprecation applicable if the machine is 2-3 year old

[@lea-rw5cb]

Mechanical breakdown cover for cars is a waste of time and money as they hit you with that many clauses it's unreal, I've just read the exclusions on one site and the only parts on a car that wasn't mentioned was tyres, suspension components and engine, they are happy taking the monthly payment but when you try and make a claim they try there hardest to get out of paying out

[@VPinsupedia]

MBD policy cannot be given to cars. I don't know what is your confusion

[@lea-rw5cb]

@@VPinsupedia few company's out there to mention one " the AA'

[@VPinsupedia]

still unable to understand your query