Overview
Our insurance policy provides comprehensive indemnity against accidental physical loss or damage to the Property Insured, covering a wide range of residential, commercial, and industrial risks. Whether it’s buildings, stocks, contents, manufacturing units, or business interruption, we offer extensive coverage tailored to your needs. Trust us to safeguard your assets and provide peace of mind in the face of unexpected events.
The Standard Fire and Allied Perils Policy covers all properties on land (excluding the cost of land), moveable or immovable, at various locations against named perils.
Insurance Offerings
- Fire, Burglary, and Allied Peril Policy
- Property All Risk Policy
- Loss of Profit Due to Business Interruption Policy
Fire, Burglary, and Allied Peril Policy
The Standard Fire and Allied Perils Policy is a named risk policy, covering all properties on land (excluding cost of land), moveable or immoveable, at various locations against named perils.
The primary coverage provided by the Fire Policy includes protection against loss or damage to property caused by fire and lightning exclusively.
Alternatively, you have the option to enhance your coverage to encompass not only fire and lightning but also a comprehensive array of Allied Perils, offering broader protection against various risks such as :
- Fire
- Lightning
- Burglary.
- Aircraft damage
- Riot, Strike, Malicious damage
- Storm, Tempest, Flood, Inundation, Hurricane, Cyclone, Typhoon and Tornado.
- Impact by Road vehicle
- Subsidence / Landslide.
- Bursting and / or overflowing of water tanks, apparatus.
The policy extends coverage to all properties situated on land, whether movable or immovable, across multiple locations. This encompasses
- Building (including plinth and foundations, if required):
- Plant & Machinery, Equipments & Accessories
- Furniture, Fixtures and Fittings
- Stocks
- Raw Material
- Finished Goods
- In process
- In trade belonging to Wholesaler, Manufacturer and Retailer.
Certain significant exclusions include losses arising directly or indirectly from:
- Electrical or mechanical breakdown.
- Deterioration of property due to temperature changes.
- Subsidence, ground heave, or landslip.
- Consequential loss (unless explicitly included).
- Contamination, pollution
- Wear and tear.
- Property involved in manufacturing, construction, or erection processes.
- War, terrorism, or nuclear incidents.
The policy is typically issued on an annual basis, providing coverage for a period of one year from the effective date of the policy.
Key Benefits
- Targeted Coverage: Specifically designed to protect against fire-related risks and a select range of allied perils.
- Cost-Effective: Often more economical compared to broader coverage options like Property All Risk policies due to its focused coverage.
Property All Risk Policy
The All Risk Policy provides comprehensive protection, encompassing a wide range of perils and risks, with only a few specific exclusions mentioned in the policy.
Certain significant exclusions include losses arising directly or indirectly from:
- Electrical or mechanical breakdown.
- Deterioration of property due to temperature changes.
- Subsidence, ground heave, or landslip.
- Consequential loss (unless explicitly included).
- Contamination, pollution
- Wear and tear.
- Property involved in manufacturing, construction, or erection processes.
- War, terrorism, or nuclear incidents.
The policy extends coverage to all properties situated on land, whether movable or immovable, across multiple locations.
Certain significant exclusions include losses arising directly or indirectly from:
- Electrical or mechanical breakdown.
- Deterioration of property due to temperature changes.
- Subsidence, ground heave, or landslip.
- Consequential loss (unless explicitly included).
- Contamination, pollution
- Wear and tear.
- Property involved in manufacturing, construction, or erection processes.
- War, terrorism, or nuclear incidents.
- Architects fee
- Debris removal expenses
- Capital addition of assets
- Temporary removal of property
- Cover on reinstatement value (new for old) basis for property other than stock
- Periodical declaration facility of stock sum insured and more.
The policy is typically issued on an annual basis, providing coverage for a period of one year from the effective date of the policy.
- Comprehensive Protection: Offers broad coverage against a wide range of perils providing all-encompassing protection under a single policy.
- Peace of Mind: Offers extensive protection against unforeseen events, providing peace of mind to property owners by minimizing potential financial losses.
- Customizable: Allows for additional coverage options for specific allied perils based on individual needs and risk exposures.
Loss Of Profit Due To Business Interruption Policy
This policy is designed to complement a Property Damage Policy, providing a comprehensive solution to safeguard both the physical assets and the financial viability of the business in the event of unforeseen disruptions. This policy can be taken only in conjunction with Property damage Policy.
Business Interruption insurance is tailored to safeguard your company’s turnover in the aftermath of an event leading to a loss, ensuring uninterrupted cash flow and enabling you to concentrate on restoring your business operations
Certain significant exclusions include losses arising directly or indirectly from:
- Events not covered under the Property Damage policy.
- Losses due to government-mandated closures or restrictions, unless explicitly covered as an extension.
- Declines in business due to factors unrelated to physical damage, such as changes in consumer preferences or market conditions.
- Wear and tear.
- Property involved in manufacturing, construction, or erection processes.
- War, terrorism, or nuclear incidents.
- Continuity of Income: Business Interruption insurance helps maintain cash flow during periods of disruption, ensuring ongoing financial stability for the business.
- Coverage for Fixed Costs: It covers ongoing expenses such as rent, utilities, and payroll, even when business operations are temporarily halted due to an insured event.
- Maintains Customer Confidence: By enabling the business to swiftly resume operations and fulfill commitments to customers, it helps preserve customer relationships and loyalty, safeguarding the long-term reputation and viability of the business.
Note: This list is not exhaustive. For detailed terms and conditions regarding coverage under this policy, please refer to the policy contract.
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