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Fire insurance Policy covers all immovable and movable property located in a particular premise such as buildings, plant and machinery, furniture, fixtures, fittings and other contents, stocks
Fire insurance Policy covers all immovable and movable property located in a particular premise such as buildings, plant and machinery, furniture, fixtures, fittings and other contents, stocks and stock in process along with goods held in trust or on commission.
What does this Policy cover?
This Policy covers loss or damage to the insured assets resulting from:
Fire
Lightning
Explosion/ Implosion
Aircraft Damage
Riot, Strike, Malicious Damage
Storm, Typhoon, Hurricane, Tornado, Flood and Inundation
Impact damage
Subsidence and landslide including Rock slide
Bursting and overflowing of water tanks, apparatus and Pipes
Missile testing operations
Leakage from Automatic Sprinkler Installation
Bush Fire
Optional Extensions
Architects, Surveyors and Consulting Engineers Fees (in excess of 3% of claim amount)
Debris Removal (in excess of 1% of claim amount)
Deterioration of stock in could storage due to power failures following damage due to an insured peril
Deterioration of stocks in could storage premises due to change in temperature arising out of loss or damage to the could storage machinery in the Insured's premises due to operation of insured peril
Forest Fire
Impact damage due to insured's owns vehicles, Fork lifts, Cranes, Stackers and the like
Spontaneous Combustion
Omission to insure addition alterations and extensions
Earthquake (Fire & Shock)
Spoilage Material Damage Cover
Leakage And Contamination Cover
Temporary Removal of Stocks
Loss of Rent
Additional Expenses of Rent for an Alternative Accommodation
Start up Expenses
Terrorism damage
Escalation
Other Salient Features
Discounts for favorable claims experience
Discounts for opting higher Voluntary excess
Incentives for Fire Protection Systems installed on the premises
Special Rating Scheme for medium/large risks based on physical features, safety systems and procedures
Loss or damage resulting from:
Fire due to own fermentation, natural heating or spontaneous combustion of the stocks or by their undergoing any heating or drying process
Burning by order of any Public Authority
Explosion of boilers or steam generating vessels & 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, house breaking, theft, larceny arising out of riot, strike, malicious damage
Impact damages by rail/road vehicle/animal belonging to the insured or employee or any occupant on the premises
Normal cracking, settlement, bedding down, up heaving of land/structures, coastal or river erosion, defective design, workmanship or use of defective materials
Forest fire
War or war like situations
Pollution or contamination except due to insured peril
