I have a householder’s policy, which covers my refrigerator, among other things. It is six years old now and in a bad condition. If it breaks down now, will I be able to make a claim?
Ratnesh Pai, Mangalore
A householder’s policy insures refrigerators under the head ‘equipment breakdown’ wherein the underwriters are liable to compensate for losses or damages arising out of accidental, electrical or mechanical breakdown. If you look at the terms and conditions of your policy document, you will find that it does not cover damage due to regular wear and tear. Even in case of damage due to insured peril, the portion of loss due to natural wear and tear is deducted from the claim in the form of depreciation.