F
ire insurance is a legal contract between an insurance company and the policyholder which guarantees that any loss or damages caused to the policyholder's property in a fire will be paid by the insurance company.
Inclusions
- Fire
- Lightning
- Explosion/implosion
- Aircraft damage
- Riot,strike,malicious damage(RSMD perils)
- Strom , tempest , flood , inundation , hurricane , cyclone , typhoon & Tornado(STFI)
- Impact by any rail/road vehicle or animal belonging to third parties
- Subsidence/landslide including rockside
- Bursting and/or overflowing of water tanks,apparatus
- Leakage from automatic spinkler installation
- Missile testing operation
- Pollution or contamination resulting from any of the above perils
- Any insured peril resulting from pollution & contamination
- Bush fire
- Terrorism
- Earthquake
Exclusions
- Loss to the stock due to change in temperature
- Loss or damage due to wear and tear, gradual deterioration or slowly developing flaws
- Loss and/or damage to jewellery, precious stones, money, bullion or documents of any kind unless specifically declared.
- War and War-like perils
- Nuclear and radioactive perils/losses
- Pollution and contamination losses
- Volcanic eruption or other convulsions of nature
- Loss or damage to the electrical machinery due to short circuiting by excess heating.However, due to damages to other property are covered.
- Spoliage from cessation of work/operation
Things to keep in mind
- Reinstatement value will be provided for the claim
- Under insurance may cause in dedication in claim
- Cause is not covered(wil be covered in break down)
- Insurabe interest has to be proofed
- Risk location should be as per address
- Backup your data for your convenience
- Reimbursement will be settled on manufacturing cost
- Fire extinguisher and CCTV camera is compulsory
- Third party stock should be mentioned and has to be covered under CLAUSE HELD IN TRUST
Documents required in claim
- Newspaper Proof
- Inventory (to determine value)
- Intimation
- 3 years income tax report and audit report
- 6 months sales and purchase report
- Back up all this file
- Bank statement if loan taken
- Rent deed if your premises rented
- FSL report
- FIR Copy,police report or punchnama
- Fire extinguisher AMC
- CCTV camera footage
- Photos or video
- Blueprint of premises, camera fitting and electric wiring
- Final investigation report copy
- Report by the fire brigade
Burglary Insurance
A burglary insurance policy offers an additional layer of security to your property.
- Theft by forceful entry
- Armed robbery or Hold-up
