What Makes It Important to Have a Fire Insurance for Your New Office?

Congratulations for your new office! Indeed, it is a result of your hard work and a big achievement for you. Though you might have done everything to beautify its interiors, have you protected it from fire?

You might counter this question by saying that you have installed various fire safety equipments, like fire alarm, fire extinguisher, etc.; and you don’t need a fire insurance policy. However, accidents can still occur to disrupt your business. Do you know, a major fire in Chandni Chowk, Delhi gutted over 50 shops and damaged goods worth crores in the area?

Read More: What Are the Risks Covered Under Fire Insurance Coverage?

Although, you might have taken every step to secure your business, it is daunting to negate the possibility of fire accidents. Therefore, it is imperative to purchase a fire insurance for your new office to give its complete protection. Here are some of the points which will help you in understanding the importance of fire insurance coverage for your new office=

  • Cover huge losses or damages=When a fire erupted, it causes flame and smoke which can damage your office or its content. Even the water used to douse flames can destroy the office building and stocks and other goods kept there. A fire insurance policy will help in covering losses or damages and, thus, ensures your business stays afloat.
  • Share financial burden: If you don’t have a fire insurance policy, you would have to pay for all the losses or damages from your pocket. There would be no one for your assistance. In some situations, a fire can lead to complete closure of your business also. It can lead to a financial crisis which can make it tough to rebuild the office and procure content.
  • Replace damaged goods: A fire insurance coverage not only covers the loss or damage to the building, but also helps in replacing the goods that caught fire. The insurer also provides for the maintenance charges for those machines and equipments which got damaged during the fire.
  • Temporary accommodation: In some situations, a fire insurance policy also arranges for the alternative accommodation for your business in case it is damaged by fire. Thanks to fire insurance policy, you can continue serving your clients.
  • Give a sense of security= The existence of fire insurance policy in case of uncertain risks like fire gives you an inner peace and satisfaction. Even if a fire occurred and you suffer losses, you are satisfied because you have a fire insurance policy and the insurer will reimburse your losses.
  • Cover medical expenses= In case your employees get injured in a fire accident, your insurance policy will pay the compensation that can help in covering medical expenses as well.

A fire insurance is unexpected, but are very destructive in nature. Therefore, it is indispensable to purchase a fire insurance policy which not only covers the risk or damages caused due to fire, but also offers protection against various perils like explosion, implosion, lighting, bush fire, missile testing operation, riot, strike, etc. Further, if you don’t own a building, you can buy a fire insurance policy for your content also. A fire insurance coverage offers wide protection to various kinds of assets, including machinery, stock, electrical fittings, etc.

Moreover, you can customize the fire insurance policy as per your business requirements. Also, while choosing the sum insured under fire insurance plan, make sure the coverage is sufficient to help you cover losses or damages at the time of the accident.

Read More: How to File a Fire Insurance Claim

How Can SecureNow Help You?

While knowing the importance of a fire insurance policy is a good thing, you would have to take some steps to buy the right fire insurance policy. Considering the benefits offered by fire insurance coverage, it is necessary to carefully understand your business requirements and choose the coverage accordingly. There is no use of buying the fire insurance policy if the coverage is inadequate.

It is strongly advised to take the help of SecureNow which is a leading corporate insurance advisor and can help you choose the right sum insured as per your requirements. You only need to fill some basic details about your requirements to generate fire insurance policy quotes which you can further compare to buy the right fire insurance policy.

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