Minor Works Extension

[@SITARAM-ou3oh]

Respected Sir, Please upload more videos pertains to Engineering Insurance as well. Sir, I offering my respect in your lotus feet for this kind of great help to insurance fraternity . May all mighty bless you with good health , happiness and all kind of success and prosperity.

[@tanushreebanerjee6385]

Thanks sir for the new video keep posting such informative videos

[@sudhanshumehta2075]

Nicely explained Sir 👍...please share insights on other extensions

[@gunjanparashar3426]

Hello Sir, Very helpful. Please upload a video on covering all the add-on of Fire Policy.

[@ruhimalvankar]

Thank you Sir.. This is very very helpful. Can you please make videos on Marine add on covers?

[@PrasannaKumar2helena]

Thank you sir

[@parasbhanvadia3612]

Thank you sir for the video. Question is 1. whether minor work coverage is on reinstatement basis or original procurement price basis? 2. What happens when a minor work project is extended beyond the policy period? Is the amount again considered in the aggregate limit ? Or is it considered in the policy from the start of a minor work project? 3. What happened when minor work originally within the specified limit but when claim happened, the minor work project value increased beyond the specific limit of the policy? 5. Which policy pick up the claim. Start date of minor work policy or claim date policy?

[@VPinsupedia]

Pointwise reply as under 1. If the policy is on RIV basis, any damaged to the property covered under miner works extension will also be on same basis and vis-a-vis. 2. The minor works which are not completed during the policy period will continue under the renewed policy provided the minor works extension is taken over there for at least similar values. 3. The claim will not be paid under this situation. 5. The policy where the loss has taken place will pay the claim provided the minor works value does not exceed the limit provided in the policy.

[@parasbhanvadia3612]

@@VPinsupedia Sir, practically, minor work may or may not be completed during policy period as it depends on minor work project start date and duration of minor work project. How insured could manage such situations?

[@VPinsupedia]

Please check revised replies I have given to your original query

[@parasbhanvadia3612]

@@VPinsupedia Thanks a lot Sir. Awaiting more detailed videos on various general insurance matters. Your videos are Really helpful and easy to digest.