Fire Insurance

Fire Insurance

Fire Insurance :

This is a basic fire insurance plans which indemnifies you against damage to your property caused by fire, lightning or explosion only.

You can decide to extend your insurance to cover other perils :

• Aircraft damage
• Riot, strike, malicious damage
• Storm, typhoon, hurricane, tornado, flood and inundation
• Impact damage
• Subsidence and landslide, including rockslide
• Bursting and overflowing of water tanks, apparatus and pipes
• Missile-testing operations
• Leakage from automatic sprinkler installation
• Bush fire

What are the other related insurances available for my business?

* The Standard Fire and Special Perils Policy can be availed with following variations to suit business requirements:

• Floater Policy: This policy can be issued for Stocks at various locations
• Declaration Policy: To take care of frequent fluctuations in stocks/ stock values, declaration policy can be availed subject to certain norms.
• Floater Declaration Policy: This policy has the features of both floater and the declaration policies.

Main exclusions of the Standard Fire Product

* The general exclusions are broadly classified as:

• Fire due to own fermentation, natural heating or spontaneous combustion of stocks
• Burning by order of any public authority
• Explosion of boilers or steam generating vessels and machinery subject to centrifugal force by its own explosion or implosion
• Pressure waves generated by aircraft
• Total or partial cessation of work/retarding/interruption of any process or operations arising out of riot, strike, malicious damage
• Burglary, housebreaking, theft, larceny in any malicious act
Automated renewal reminder service
• Impact damage by rail/road vehicle or animal belonging to the insured or employee or any occupier of the premises
• Normal cracking, settlement, bedding down, upheaval of land/structures, coastal or river erosion, defective design, workmanship or use of defective materials
• Destruction or damage caused by forest fire
• Excess amount mentioned in the schedule/policy i.e. the minimum amount of claim to be borne by the client
• Loss or damage caused by war or warlike situations
• Loss or damage by pollution or contamination except due to insured peril
• Loss or damage to electrical machine/apparatus which is the source of fire
• Architects', surveyors' and consulting engineers' fees exceeding 3% and debris removal expenses exceeding 1% of claim amount
• Any consequential losses