Fire Insurance

covers properties against physical loss or damage due to fire and allied perils

About Fire Insurance
The perils specifically covered under the standard fire and special / allied perils policy have been known to be the major causes of setback to business ventures – both large and small. Buying a fire insurance policy ensures financial security and an early recovery of setbacks for the business venture against physical and material losses or damages caused by fire and other specified perils.

Fire insurance covers the perils of fire, lightening, explosion, implosion, aircraft damage, riot strike and malicious damage, impact damage, subsidence and landslide including rockslide, bursting of overheads apparatus and pipes, missile testing operations, leakage from automatic sprinkler installations and bush fire. Architects fees payable upto 3% of claim amount and debris removal expenses payable upto 1% of the claim amount are also part of covers provided. These perils majorly affect all land based assets, and the policy is suitable for such risks. The policy will cover all risks located within the geographical limits of India only.

Earthquake, Storm Tempest Flood and Inundation ( STFI ) and Terrorism are the common add on covers required by any business. These are available under the policy on payment of additional premium. The insured can choose from the specified add on covers to customise the policy as per the requirements of their business. Properties / assets / risks that can be covered under this type of insurance are buildings, electrical installations in buildings, building contents such as machinery, plant and equipment, their accessories, stocks, raw material, furniture, fixtures and fittings and such like.

Properties / assets / risks that can be covered under this type of insurance are buildings, electrical installations in buildings, building contents such as machinery, plant and equipment, their accessories, stocks, raw material, furniture, fixtures and fittings and such like.

The cost of a fire insurance policy is not exorbitant but the benefit is only visible in the event of a mishap.

The security is there for you, if you extend your hand forward !
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Fire Insurance FAQs

What is Fire Insurance?
What are perils covered under fire insurance?
How should the sum insured or the insurance value be estimated for any kind of property?
Points to consider
All kinds of tangible properties or assets are exposed to the risks of physical loss or damage
This is a named peril policy, normally issued for a period of one year, with all the contingencies covered in the insurance clearly named and defined
Burglary is not covered under the fire policy. The risk should be insured for burglary separately.
Any insurance can provide full protection only when the sum insured is adequate – at the time of purchase of insurance and in the event of a loss.
The basis of valuation most commonly used for arriving at the sum insured for fire and engineering insurance is either the market value / indemnity value or the reinstatement value.
Market Value is the amount for which the building, plant or machinery of the same age and condition can be bought or sold
Re-instatement value is the value at which new but similar nature and capacity building / plant and machinery can be obtained i.e. new for old.
This policy can be purchased for all properties situated within the geographical limits of India.
Why Insure Through Easypolicy?
Easypolicy simply makes insurance easy. With Easypolicy, you may rest assured that you are making the right choice for your insurance policy. We not only offer quotes from various insurance companies, but also make price-feature comparisons for our users to see what each company has to offer. Moreover, we assist you with important information in a friendly interface, which helps you understand the intimidating world of insurance better so that you can make an informed choice.
 
Disclaimer : The content given in this site is for information purposes only. In case the information above is any way different to the policy issued, then the issued policy terms, conditions, covers and exclusions will take precedence over the above content.

Please refer to our Fire Insurance FAQs for more Information.
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