Fire Insurance
Fire Insurance covers the financial loss happens due to harm of goods or belongings, caused by fire.
A fire insurance is a contract under which the insurer, during a specified period, agrees to indemnify the insured for the financial loss which may occur due to destruction of or damage to property or goods, caused by fire.
Means, It is a contract between the policyholder and the insurance company to indemnify the insured for the financial losses suffered due to the destruction or the damage of the property or belongings caused by fire.
This loss may happen due to lightning, accidental fire, explosion or implosion, etc. and also man-made perils like overflowing or bursting of pipelines and water tanks, leakages from water sprinklers and so on.
It is a comprehensive Policy to cover your valuable assets.
Risk covered under this Policy :
Fire
Lightning
Explosion / Implosion
Aircraft Damage
Riot, Strike and Malicious damage
Flood, Storm, Tempest, Cyclone, Typhoon, Tornado, Hurricane and Inundation
Impact damage
Subsidence/Landslide/Rockslide
Bursting, over-flowing of water tanks, piplines
Leakage from automatic sprinkler installations
Bush fire
Possible add-ons
Earthquake
Terrorism damage
Removal of debris
Loss of rent
Loss of rent for alternative accommodation
Types of Fire Insurance Policies;
Specific Policy
Floating Policy
Average Policy
Excess Policy
Valued Policy
Valuable Policy
Comprehensive Policy
Consequential Loss Policy
Sprinkler Leakage Policy
Add on Covers Policy
Escalation Policy
Maximum Value of Discount Policy
Declaration Policy
Adjustable Policy
Reinstatement Policy
Escalation Policy