Fire Insurance :

Designed to provide financial protection for the property

against loss or damage by fire and other specified perils.

Insurable properties
• Buildings

• Stocks
• Contents ---- machinery, plant and
equipment, accessories
• Goods ---- in factory/ godown/open
• Furniture, fixtures and fittings, etc
 Standard and special perils Policy
Perils covered
• Fire
• Lighting
• Explosion/ Implosion
• Aircraft Damage
• Riot, Strike and Malicious Damage
• Storm, cyclone, 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
• Accidental leakage from automatic sprinkler installations
• Bush fire
 General Exclusions
•War and kindred perils
•Nuclear peril
•Pollution or contamination excluding---
•Results from a peril insured against
•A peril insured itself from pollution or contamination
•Bullion or unset precious stones, work of art, cheques, books of
accounts etc unless it is stated in the policy
•Stocks in cold storage premises by change of temperature
•Electrical Risks
•By spoilage from the interruption of the process caused by the perils
covered
•Removal of insured property from the insured premises
•Theft during or the occurrence of any insured peril
 General Exclusions
•Its own fermentation, natural heating and spontaneous combustion
•Its undergoing any heating or drying purposes
•Burning of insured Property by order of any public authority
•Explosion/Implosion of Boilers
•Explosion/ Implosion caused by “centrifugal forces”
•Bush fire caused by forest fire
 General Excess

“ACT OF GOD” Perils (Lightning, STFI,

Subsidence, Landslide and Rockslide)
5% of each and every claim subject to a
minimum of Rs. 10,000/-

All Other Perils

First Rs. 10,000/- of each and every claim

Excess is not applicable to dwellings

 Add on Covers
•Architects fees in excess of 3% of claim amount
•Debris removal in excess of 1% of claim amount
•Deterioration of stocks in cold storage premises
•Spontaneous combustion
•Forest fire
•Impact damage
•Earthquake(fire and shock)
•Spoilage material damage cover
•Temporary removal of stock
•Loss of rent
•Start-up expenses
•Escalation clause
 Special Policies
•Floater policies
•Declaration policies
•Reinstatement value policies
•Industrial All Risk policies
•Agreed Bank clause
•Fire proposal form
•Consequential loss(fire) insurance