Standard Fire and Special Perils Insurance Policy

​​It takes a lifetime for you to build business and personal assets like home, office, shop & factory etc., however, any mishap like fire can arise to destroy your house, business premises & factory. So, fire insurance policy that curtails financial losses due to fire to some extent. Irrespective of its size, every business needs a fire insurance policy. In every office, the company keeps its important files, documents, and assets. Hence, fire insurance policy is important which protects you against losses or damages.​​​​

Benefits of a fire insurance policy-

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What does the policy cover?​

This policy provide coverage against financial loss or property damage caused by a fire or other covered peril

 

a​nd more coverage-

• Air​craft damage
• ​Bush fire
• Impact damage
• Subsidence and landslide including rockslide demolition
• Bursting/overflowing of water tanks, apparatus, and pipes
• Missile testing operations
• Leakage from automatic sprinkler installation excluding loss, destruction, or damage
• S​torm, cyclone, typhoon, tempest, hurricane, flood and inundation and tornado​

For detail & complete list of coverage, exclusion, add on​ coverage please refer policy wording of Standard Fire and Special Perils Policy

What does the policy not cover?​

This policy does not cover damage or loss due to:

• Compulsory Excess
• War and War like Perils
• Nuclear and Radioactive Perils/Losses
• Pollution and Contamination Losses
• Consequential loss
• Volcanic eruption or other convulsions of nature
• Theft during or after the occurrence of any insured peril
• Loss or damage to the electrical machinery due to short circuiting excess heating. However resultant damages to other property are covered.
• Damage to Stocks in cold storage premises due to change in temperature
• Spoilage from Cessation of work/operation
• Loss by Theft during or after occurrence of any insured peril
• Burning of Property by order of any public authority
• Earthquake Coverage
• Terrorism Damage Coverage​
  

Add On Coverage​​

• Architects, Surveyors and Consulting Engineers Fees (in excess of 3% claim amount)
• Removal of Debris (in excess of 1% claim amount)
• ​De​terioration of Stocks in Cold Storage premises due to accidental power failure consequent to damage at the premises of Power Station due to an insured peril
• Deterioration of stocks in cold storage premises due to change in temperature arising out of loss or damage to the cold storage machinery(ies) in the Insured’s premises due to operation of insured peril​
• ​Forest Fire
• Impact Damage due to Insured’s own Rail/Road Vehicles, Forklifts, Cranes, Stackers and the like and articles dropped there from
• Spontaneous Combustion
• Omission to Insure additions, alterations or extensions
• Earthquake (Fire and Shock)
• Spoilage Material Damage Cover
• Leakage and Contamination Cover
• Temporary Removal of Stocks Clause
• Loss of rent clause
• Insurance of Additional Expenses of Rent for An Alternative Accommodation
• Start up Expenses
• Escalation Clause

Disclaimer:- For complete list of exclusion, add ons​ & coverage details please refer policy wording of Standard Fire and Special Perils Policy