Fire Insurance

What is Fire and Allied Perils Insurance?

Fire Insurance, often sold as Standard Fire and Special Perils (SFSP), is a property insurance policy that protects assets like buildings, machinery, and inventory from the financial consequences of fire and a range of other specified risks. It is crucial for anyone—from homeowners to large factory owners—to protect their investment against catastrophic, unforeseen events.

Key Inclusions (What’s Covered) 🛡️

• Fire Damage: Covers losses directly caused by actual ignition and burning.
• Lightning & Explosion: Damage caused by lightning strike or external explosion.
• Natural Calamities: Includes cover for damage from floods, storms, cyclones, and earthquakes (earthquake is often an add-on).
• Man-made Perils: Covers loss due to riots, strikes, malicious damage, and acts of terrorism (terrorism is typically an add-on).
• Aircraft Damage: Loss or damage caused by aircraft or other aerial devices.

Who Needs This Protection?

• Homeowners & Tenants: To cover the structure and/or the contents of a residence.
• Shopkeepers & Retailers: To protect stock, furniture, and the shop building.
• Factory & Manufacturing Units: Essential for covering machinery, raw materials, and finished goods.
• Warehouse & Godown Owners: Protects large inventories and storage facilities.
• Commercial Property Owners: For hotels, schools, hospitals, and office complexes.

Add-on Covers for Comprehensive Security

• Loss of Profit (Business Interruption): Compensates for loss of income following a covered property damage event.
• Alternate Accommodation / Loss of Rent: Covers costs if a home is uninhabitable after damage.
• Earthquake Cover: Extends the policy to include loss or damage due to seismic activity.
• Removal of Debris: Covers the cost of clearing debris from the insured premises.

Exclusions (What's Typically Not Covered) 🚫

• War & Nuclear Risks: Any loss caused by war, invasion, or nuclear events.
• Intentional Damage: Loss caused by intentional acts or gross negligence by the insured.
• Consequential Loss: Indirect losses, such as loss of market or contracts (unless covered by Business Interruption add-on).
• Theft During/After Fire: Theft or larceny that occurs during or immediately after the insured peril (unless specifically covered).

Why Insure Your Assets With Us?

• Tailored Solutions: Plans customized based on your property type (e.g., residential vs. industrial) and asset value.
• Expert Risk Assessment: We help assess your sum insured accurately to avoid underinsurance.
• Hassle-Free Claim Support: Dedicated assistance throughout the entire claim filing and settlement process.
• Competitive & Transparent Pricing: Ensuring you get maximum coverage that fits your budget.