Standard Fire And Special Perils

Coverage Add-On Cover Exclusion

Overview

We understand building up any business requires lot of time, hard work and considerable money. We also understand your needs when misfortune strikes when you least expect it. Almost anything can happen at any time – a short circuit or natural calamities can reduce your assets to ashes, a burst pipe can flood your premises, a riot or act of terrorism can damage your assets. Fire Insurance is a named peril policy which design to cover loss or damage to property to named peril.

Fire insurance policy can be taken by home owners, owners of an office, Shopping complex, shop keepers, industrial units and warehouses. This Policy covers various assets like Building, Plant and Machinery, Stock, Furniture, Fixtures and other immovable and movable assets.

Coverage

  • Fire
  • Lightning
  • Explosion / Implosion
  • Aircraft Damage
  • Riot, Strike, Malicious Damages
  • Storm, Tempest, Cyclone, Typhoon, Hurricane, Tornado, flood, inundation
  • Impact damage
  • Subsidence, Landslide and Rock slide
  • Missile Testing operations
  • Bush Fire
  • Bursting and/or overflowing of Water Tanks, Apparatus and Pipes
  • Leakage from Automatic Sprinkler Installations

Add-On Cover

Further, on payment of additional premium, the following additional coverage can be opted:

  • Architects, Surveyors and Consulting Engineers fees (in excess of 3% of claim amount)
  • Debris Removal (in excess of 1% of claim amount)
  • Deterioration of Stock in Cold Storage
  • 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
  • Alternative Accommodation
  • Start Up Expenses
  • Terrorism Cover

Exclusion

  • Arising Excess under the policy
  • War and war like perils
  • Nuclear risks
  • Pollution or contamination even caused by insured perils
  • High value items like gold, cash unless specified
  • Stocks inside the Cold Storage
  • Damage to equipment caused by electrical short circuit. However subsequent damages arising out of such fire is covered
  • Expenses incurred towards Architects, Surveyor's and Consulting Engineer's fees in excess of 3% of claim amount
  • Expenses incurred towards removal of debris in excess of 1% of claim amount
  • Loss of earnings, markets, loss by delay, any other consequential losses
  • Spoilage of material due to stoppage even though stoppage may be due to operation of perils insure
  • Loss by theft during or after the occurrence of any loss / peril
  • Earthquake, volcanic eruption
  • Property not in the premises or removal of property to any other premises except machinery sent for repairs / cleaning for a period of 60 days