What's a Fire Policy?
Fire insurance covers for loss of or damage to property resulting from fire, lightning, explosion, earthquake fire & shock and volcanic eruption, bush fire, riot, strike, malicious damage and special perils. For finer details and a complete list of coverage, exclusion, add on coverage please read the Standard Fire and Special Perils Policy- Aircraft damage, bush fire, impact damage and earthquakes
- Subsidence and landslide including rockslide demolition
- Bursting/overflowing of water tanks, apparatus, and pipes
- Leakage from automatic sprinkler installation excluding loss, destruction, or damage
- Storm, cyclone, typhoon, tempest, hurricane, flood and inundation and tornado
- Civil war, riot and strikes, unless specifically covered
- Nuclear energy exclusion
- Loss by theft during or after the occurrence of a fire
- Loss or damage to property occasioned by its own fermentation, natural heating or spontaneous combustion
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If you're interested in getting a quote for the policy, this is what we'll need from you:
- The description of how the buildings are built from walls, roofs, number of floors, use and current reinstatement value
- Description of the contents’ and their corresponding values
- Plant, machinery or equipment replacement cost
- Value of furniture, fixtures and fittings
- Stocks of fuel and other products
This policy does not cover damage or loss due to:
- Compulsory excess
- War and Warlike 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 properties 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 the occurrence of any insured peril
- Burning of property by order of any public authority
- Terrorism damage coverage
- 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
- Startup Expenses
- Escalation Clause