4. Partial Loss

Full cost of parts plus the labour charges, to and fro freight, customs duty and charges for dismantling and re-erection. Excess applicable to the affected item is deducted from claim. Depreciation is applied for items with limited life.If the repair works are undertaken by the insured, actual material and labour costs plus a reasonable quantum of overheads is payable. Salvage is deducted. If the sum insured is not adequate, policy pays only proportionately.