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.