Insurance Guide
Fire Insurance
Financial compensation for loss or damage caused to property, stock, machinery, equipment, and assets due to fire and allied perils.
Why it is Important
- Protection against fire losses
- Coverage for allied perils
- Business continuity support
- Flexible sum insured options
- Covers industrial & commercial risks
Who Should Buy?
Manufacturers & Factories
Protecting large scale operations and units.
Traders & Retail Shops
Securing daily business assets.
Warehouse Owners
Protecting extensive storage areas.
Offices & Hotels
Safeguarding commercial spaces and hospitals.
What is Covered?
- Fire & Lightning
- Explosion/Implosion
- Riots & strikes
- Storm, cyclone & flood
- Earthquake (optional)
- Impact damage & Aircraft damage
- Burst pipes & water damage
- Bush fire
What is NOT Covered?
- War & nuclear risks
- Intentional damage
- Normal wear & tear
- Electrical short circuit without fire (subject to policy)
- Loss due to negligence
- Consequential loss unless covered
Important Terms
Sum Insured
Maximum liability of insurer.
Reinstatement Value
Replacement cost of asset.
Market Value
Depreciated value of asset.
Underinsurance
Insuring for lower than actual value.
Claim Process
Inform insurer immediately
Take loss minimization steps
Surveyor inspection
Submit documents
Claim assessment & settlement