Fire Insurance and Associated Perils
A standard Fire and Associated Perils Insurance offers cover against fire and other allied perils as mentioned in the policy. It may cover the building, plant and machineries, stocks, furniture, fixtures and other fittings. It also offers coverage against certain other events as listed below depending on the policy type:
- Fire
- Lightning
- Explosions
- Impact of aircrafts and other aerial devices
- Natural Disasters (Floods, Earthquakes, Storms, Cyclones)
- Burglary following violent forcible entry or exit
- Civil commotions, riots and strikes
- Malicious damage
- Flooding or bursting of apparatus, water storage tanks and pipes
- Fire brigade and extinguishing charges
- Accidental Damage or Impact Damage
- Expenses occurred for the removal of debris from the property
Typical exclusions in this policy are:
- Political Risks (War, Terrorism, Sabotage)
- Nuclear Risks
- Property in the course of manufacturing or property being worked upon
- Willful destruction of property
- Machinery Breakdown or Derangement
- Mysterious Disappearance
- Loss or damage to Money, Cheques, evidence of debt and securities of all kind
