Standard Fire & Special Perils Insurance

The traditional cover to protect you against fire and allied perils

Standard Fire & Special Perils Insurance Policy

Fire insurance policy is suitable individuals/financial institutions who have financial interest in the property.

The policy is suitable for the owner of property, one who holds property in trust or in commission

All immovable and movable property located at a particular premises for repairs can be insured

Offers additional covers including architects, surveyors and consulting engineers fees

Offers additional coverage including Debris Removal (in excess of 1% of claim amount)

Additional coverage for deterioration of stock in cold storage

Additional cover for forest fire

What it covers?
Exclusions

What it covers?

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

Exclusions

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 occupier of the premises
Normal cracking, settlement, bedding down, up heaving of land/structures, coastal or river erosion, defective design, workmanship or use of defective materials
Destruction or damage caused by forest fire
Excess amount
Loss or damage caused by war or war like situations
Loss or damage by pollution or contamination except due to insured peril
Loss or damage to electrical machine/apparatus, which is the source of fire
Architects, Surveyors & Consulting Engineer's fees exceeding 3% and debris removal expenses exceeding 1% of claim amount
Any consequential losses

FAQs

What does Standard Fire & Special Perils Insurance offer?

Fire insurance policy is suitable for the owner of the property, one who holds property in trust or in commission; individuals/financial institutions who have a financial interest in the property. All immovable and movable property located at a particular premises such as buildings, plant and machinery, furniture, fixtures, fittings and other contents, stocks and stock in process along with goods held in trust or in commission including stocks at suppliers/ customer's premises, machinery temporarily removed from the premises for repairs can be insured.

What additional covers does the policy offer?

Architects, Surveyors, and Consulting Engineers Fees. (in excess of 3% of the claim amount)
Debris Removal (in excess of 1% of the claim amount)
Deterioration of stock in cold storage due to power failures following damage due to an insured peril.
Deterioration of stocks in cold storage premises due to change in temperature arising out of loss or damage to the cold storage machinery (ies) in the Insured's premises due to operation of the insured peril.
Forest Fire.
Impact damage due to insured's owns vehicles, Forklifts, 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 Clause.
Insurance of Additional Expenses of Rent for an Alternative Accommodation.
Startup Expenses.
Terrorism damage.

How is rating determined?

The rating depends on:

The type of occupancy-whether industrial or otherwise.
Claim experience.
Fire Protection System.
Deductible Franchise.

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Standard Fire & Special Perils Insurance