Key benefits - Cover your property against fire
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
- 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
This is not an exhaustive list.
For further details and quotation, talk to us today at 1800-103-2292 (Toll free) or visit one of branches
