Businesses are prone to unforeseen losses. These losses can lead a flourishing business into disaster due to the loss of property, stocks, machinery, tools and facilities, ultimately wiping out the capital and causing consequential losses. Monetary relief is essential in re-building / restoring the damaged property. Fire insurance cover plays a vital role in safeguarding the financial interests of an enterprise.   

The fire insurance policy covers immovable and movable property; buildings, plant and machinery, furniture, fixtures, fittings, contents, stocks/ stock in process, raw material, goods held in trust or in commission, including stocks at suppliers / customer’s premises, machinery temporarily removed from the premises for repairs due to loss or damage by fire or due to any of the perils mentioned hereunder; fire, lightning, aircraft, explosion, earthquake, strike, riot, civil commotion, malicious damage, storm, tempest, flood, bursting and or overflowing of water tanks, pipes etc. 

In the case of a partial loss, payments for repairs or replacement are made. In case of a policy with a reinstatement value clause, the cost of reinstatement will be paid on completion of reinstatement, subject to an overall limit of the sum insured. The insurance company, at its discretion, may repair or replace the affected property instead of paying for the cost of restoration.

Premiums are based on the type of occupancy, physical features, values at risk, requirement of additional covers and information provided on a completed proposal form. There are a number of exceptions and exclusions, which are part of the policy terms and conditions. Our technical staff will always be ready to assist you should you require additional information or further clarification.

This Policy indemnifies against the accidental physical loss or damage to the Property Insured described in the policy. It includes loss or damage due to fire, lightning, aircraft, explosion, earthquake, strike, riot, civil commotion, malicious damage, storm, tempest, flood, bursting and or overflowing of water tanks, pipes and apparatus (including sprinkler leakage), impact by own vehicles, theft or attempted theft (by violent and forcible entry to or exit from the premises) and accidental loss or damage.

The sum insured can either be on the basis of the actual value or the new replacement value of the property, but should be adequate to cover the total exposure. The insured can provide the sum insured, or may seek the assistance of our technical staff to determine the adequacy. 

Premiums are based on the type of occupancy, physical features, values at risk, requirement of additional covers. There is a deductible for each and every loss under the policy and coverage is subject to exceptions and exclusions, which form part of the policy terms and conditions. Our technical staff will always be happy to assist you should you require additional information or further clarification.