About Fire Insurance

With our customised fire insurance plans, you can reduce operational risks and improve your risk management setup. These cover fire and related perils that cause damage to buildings, stock, machinery, and contents. Use dynamic policy structures that adjust to your asset profile to provide strong protection with the least amount of disturbance to your business. Encourage business continuity by taking proactive measures to protect your finances.

Why You Need It

Fires have the potential to seriously impair business operations and property, resulting in significant financial losses. Fire insurance provides a vital safety net for both homeowners and business owners by guaranteeing that losses from unintentional fires, lightning strikes, explosions, and related incidents are covered. In the event of unplanned disasters, it facilitates quicker recovery and continuity.

Frequently Asked Question

Q: What does a standard fire insurance policy cover?

 

A: It typically covers losses due to fire, lightning, explosion, implosion, riot, strike, malicious damage, storm, flood, and other listed perils.

Q: Are natural calamities like earthquakes covered under fire insurance?

 

A: No, unless specifically included. Earthquake cover is usually available as an add-on to the base policy.

Q: Is fire insurance mandatory for commercial buildings?

 

A: While not legally mandatory, many banks and financial institutions require it for properties financed through loans.

Q: Can I insure stock kept in multiple locations?

 

A: Yes, but each location needs to be declared and listed separately in the policy to ensure valid coverage.

Q: How is the claim amount determined in case of a fire?

 

A: The claim amount is based on the sum insured, market value, and the extent of actual damage, as verified by a surveyor appointed by the insurer.