The policies under this class of business covers various property like Residential / Commercial Buildings, Warehouses, Industries / Factories, Small and Medium enterprises.
The cover can be extended to include:
- Contents like Machinery, Stock or Other contents against Material Damage (Fire Insurance, Fire and Allied perils Insurance, Property All Risks Insurance are a few policies available)
- Consequential Losses. (Property Loss of Profit / Business Interruption Insurance are some of the policies available)
1. Fire Policy: This covers the risk of losses or damages due to fire and lightning only.
2. Fire and Allied perils:
In addition to risk of Losses/Damages araising from Fire and Lighting the following additional perils can be included:
- Explosions
- Storms, tempests and floods
- Earthquakes, volcanic eruptions
- Aircraft or any other aerial devices or articles dropped from impact damage by your own or any third party road vehicles, horses or cattle
- Bursting or overflowing of water tanks, apparatus or pipes
- Loss of profits or the interruption of business
- Loss of Rent
- Third party legal liability including the liability of landlords towards their tenants
- Tenants liability towards their landlords
- Strikes, riots & civil commotions
- Malicious damage
- Theft/Burglary following a forcible entry/exit from the insured premises
- Accidental damage to plate glass fixed to the buildings
- Removal of debris expenses following losses or damages to the insured property
- Fire brigade charges and extinguishing expenses
- Architects, surveyors and legal and consulting engineeing fees
DISCLAIMER
The above is a brief information of the covers available under the Policy. Please request for a copy of the Insurer's Terms and conditions of the policy which shall be binding and considered as final basis for settlement of any dispute.