Standard Fire & Special Perils Insurance
Fire insurance is a traditional cover your property against the damage and losses caused by fire and allied perils. This insurance protect you against such uncertainties. The policy protects your physical goods and equipment of the business or home against fire and allied perils.
The policy can cover building (including plinth and foundation), Plant and Machinery, stock, furniture, fixtures and fittings and other contents. It helps to cover the cost of replacement, repair or reconstruction of the property.
Standard fire insurance policies provide coverage against financial loss or property damage caused by fire or other allied perils.
What Does it Covers?
- Fire
- Lightning
- Explosion/ Implosion
- Aircraft Damage
- Riot, Strike, Malicious Damages & Terrorism
- Storm, Tempest, Cyclone, Typhoon, Hurricane, Tornado, Flood and inundation
- Impact damage
- Subsidence, Landslide and Rock slide
- Missile Testing operations
- Bursting and/or overflowing of Water Tanks, Apparatus and Pipes
- Leakage from Automatic Sprinkler Installations
- Bush Fire
General Exclusions: -
- War and Nuclear perils
- High value items like gold, precious stones, unless specified
- Fire due to own fermentation, natural heating or spontaneous combustion of the stocks or by their undergoing any heating or drying process
- Burning by order of any Public Authority
- Loss, destruction or damage to the stocks in cold storage premises caused by change of temperature
- Burglary, house breaking, theft, larceny arising out of riot, strike, malicious damage.
- Destruction or damage caused by forest fire
- Impact damages by rail/road vehicle/animal belonging to the insured or employee or any occupier of the premises
- Property not in the premises
- Consequential or indirect loss and etc.
Below are some of the ADD-ON Covers that can be opted.
- Architects, Surveyors and Consulting Engineers fees (in excess of the provisions of the standard policy)
- Debris Removal (in excess of the provisions of the standard policy)
- Forest Fire
- Impact Damage by insured’s own vehicles etc.
- Spontaneous combustion
- Omission to insure Additions, Alterations or Extensions
- Earthquake (Fire and Shock)
- Spoilage Material Damage Cover
- Leakage and Contamination Cover
- Loss of Rent
- Additional expenses on rent for Alternative Accommodation
- Start Up Expenses
- Terrorism Cover
- Deterioration of Stock in Cold Storage
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