Fire (Property) Insurance

We are one of the leading General Insurance Company with expertise in risk minimization and mitigation. Our special value added services team is dedicated for risk advisory and safety installation. Our claim settlement is fast with single documentation. We settles claims of up to Rs 5 Lakhs by MSMEs within 10 days.

Coverage

Our standard cover includes physical loss or damage, or destruction caused to the building and structures, plant and machinery, stock and other assets relating to your business.

Products

Fire (Property) Insurance ​ provides insurance cover for physical loss or damage to, or destruction of, insured property relating to your business. This policy is for enterprises where the total value at risk across all insurable asset classes at one location does not exceed ₹ 5 Crore (Rupees Five Crore) at the policy commencement date.

Expertise

We carry industry’s expertise to assess your business risk and provide better solution. We have a deep understanding of your business to provide the right coverage.

Risk Mitigation

We have a specialized team which is dedicated for risk minimization and mitigation.

Claims

You’ll have access to round the clock claim assistance to ensure you experience hassle-free claim settlement.

Technology Edge

One of the leading brand to issue the fastest Bharat Sookshma Udyam Suraksha policy in one go.

What is Fire (Property) Insurance ​?

This policy covers risks up to 5 crores for properties like Offices, Hotels, educational institutes, warehouse/ Godowns, Shops, Industrial/Manufacturing risks, Utilities located outside the compound of Industrial/ Manufacturing risks, Storage risks The product also covers Perils like Earthquake, Terrorism, Additions, alterations or extensions, Temporary removal of stocks, cover for specific contents, Start-up expenses, Professional fees, removal of debris, costs compelled by Municipal Regulations, Floater Cover for Stocks, Spontaneous Combustion, Forest Fire, Theft / Burglary following an insured peril only reported within 7 days of occurrence.

  • Underinsurance waiver upto 15%
  • Policy includes inbuilt covers for:
  • Additions, alterations or extensions
  • Stocks on Floater basis
  • Temporary removal of stocks
  • Start up expenses
  • Professional Fees
  • Cost of removal of debris

Why you should Buy Fire (Property) Insurance ​?

One of the leading General Insurance Company with following strengths:

Expertise in risk minimization and mitigation
Speedy claims settlement with single documentation
Special value added services team dedicated for risk advisory and safety installations
Financial strength and supreme claims paying capacity.

Who needs Fire (Property) Insurance ​?

  • Offices
  • Hotels & Restaurants
  • Educational Institutions/Schools/Colleges
  • Shops/Retail Outlets
  • Malls
  • Industrial/Manufacturing Units
  • Warehouse/Godowns
  • Utilities located outside the compound of Industrial/ Manufacturing units

Why do you need Fire (Property) Insurance ​?

It covers Structure & building, Plant & Machinery, Electrical fittings & fixtures, Furniture/Furnishings & decor, Raw Materials, Finished Goods & Stock in process. The policy covers the insured property related to the business against insured peril at one location with the total value at risk up to 5 Crores.

  • Fire, including due to its own fermentation, or natural heating or spontaneous combustion
  • Explosion or Implosion – This policy protects against the loss caused due to explosion and implosion. A vessel can explode when it’s inside pressure reaches to or is more than the atmospheric pressure outside. Whereas an implosion occurs when the external pressure is more than the internal pressure
  • Lightning – Fire or any other damage caused to the property due to a peril like lightning is covered by the fire insurance policy
  • Earthquake, volcanic eruption, or other convulsions of nature
  • Storm, Cyclone, Typhoon, Tempest, Hurricane, Tornado, Tsunami, Flood and Inundation – These violent destructions are also covered under fire insurance
  • Acts of terrorism – An act of terrorism means an act or series of acts, including but not limited to the use of force or violence and/or the threat thereof
  • Bursting or overflowing of water tanks, apparatus and pipes: This policy also covers loss and damage caused to the property by water due to the Bursting or overflowing of water tanks, apparatus and pipes
  • Leakage from automatic sprinkler installations
  • Theft within 7 (seven) days from the occurrence of and proximately caused by any of the above Insured Events

  • Burning of Insured Property by any order of Public authority
  • Deliberate, wilful or intentional act or omission
  • Loss, destruction or damage to stocks in cold storage due to change in temperature
  • Loss, destruction or damage to insured property by undergoing any heating, drying process or centrifugal Forces
  • War, invasion, war-like operations
  • Ionising radiation
  • Pollution or contamination
  • Property is missing or has been mislaid
  • Consequential or indirect loss or damage
  • Costs, fees or expenses for preparing any claim
  • Insured premised or building remains unoccupied for more than 30 days

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