Fire insurance is a legal contract between an insurance company and the policyholder which guarantees that any loss or damages caused to the policyholder’s property in a fire will be paid by the insurance company. Fire insurance provides coverage against incidents of accidental fire, lightning, explosion, etc.
Fire accidents are unexpected and cause enormous destruction not only in terms of finances but it becomes tougher to deal with the aftermath. Owning a business, one is always prone to risks and a fire eruption can instantly bring a flourishing business to a stalemate.
Fire accidents are unexpected and cause enormous destruction not only in terms of finances but it becomes tougher to deal with the aftermath. Owning a business, one is always prone to risks and a fire eruption can instantly bring a flourishing business to a stalemate.
Let us understand why fire insurance is a wise choice. Having a fire insurance policy comes with a broad range of scope, which includes:
This policy provide coverage against financial loss or property damage caused by a fire or other covered peril
Fire and lightning
Strom/Cyclone
Explosion/implosion
Riot,Strike and Malacious damage
Aircraft 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
Storm, cyclone, typhoon, tempest, hurricane, flood and inundation and tornado
This policy does not cover damage or loss due to:
Architects, Surveyors and Consulting Engineers Fees (in excess of 3% claim amount)
Removal of Debris (in excess of 1% claim amount)
Deterioration 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
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We believe insurance was always meant to protect what one loves. We are here to ‘Make Insurance Simple’.