Introduction A property insurance premium can look like a single number on a renewal notice. But that number is the end result of a fairly detailed risk assessment. Two businesses with identical sum insured amounts can receive very different quotes. The difference comes down to what the insurer sees when it looks at the building. […]
How to Buy Property Insurance – The Buyer’s Guide
How Do You Buy Property Insurance? Start by identifying the property and assets you want to insure, then assess the major risks they face – fire, theft, weather, and so on. Decide what coverage you need and calculate an appropriate sum insured based on current values. Gather the required information and documents, compare suitable policies […]
Equipment & Machinery Breakdown Insurance – Complete Guide
Introduction Machinery rarely fails at a convenient time. A short circuit in a factory motor, a burst hydraulic cylinder, or a breakdown in a hospital’s only MRI machine can halt operations in minutes and cost lakhs in repairs – before any lost revenue is even counted. Ordinary fire or property insurance protects against external threats […]
Home Insurance & Housing Society (RWA) Property Cover – Complete Guide
What Home, Renter, and RWA Insurance Covers? Broadly, home insurance generally protects a residential property’s structure and/or its contents against covered risks like fire, storm, and theft, subject to the policy chosen. In contrast, renters insurance focuses on the tenant’s own belongings and applicable liability, not the landlord’s building. All-risk home insurance offers broader protection […]
Consequential Loss & Fire Loss of Profit (Business Interruption) Insurance – Complete Guide
What Is Consequential Loss Insurance? Direct loss refers to the physical damage that a covered event causes to insured property, such as a fire damaging machinery. Consequential loss refers to the financial consequences that follow – lost income, continuing expenses, and additional costs – because the event disrupted business operations. Business interruption or consequential loss […]
Office Insurance – Complete Guide
Introduction An office is more than a workspace – it is where a business keeps its equipment, records, furniture, and, in many cases, its most expensive electronics. For instance, a short circuit, a burst pipe, a monsoon flood, or a burglary can set a business back by lakhs of rupees in a single afternoon. However, […]
Factory & Warehouse Insurance – Complete Guide
What Is Factory & Warehouse Insurance? Factory & Warehouse Insurance is a property cover for premises used to manufacture, process, or store goods. Depending on the policy chosen, it can protect the building, plant and machinery, raw materials, work-in-progress, and finished stock against perils such as fire, explosion, storm, flood, and other insured events. However, […]
Types of Property Insurance Policies
What Are the Types of Property Insurance? Property insurance in India is not one product but a family of policies, each built for a specific asset or stage of risk. The core types are Fire/Standard Fire and Special Perils (SFSP) insurance, All-Risk property insurance, Building and Contents insurance, Erection All Risk (EAR), Contractor’s All Risk […]
Property Insurance Coverage & Exclusions – Complete Guide
What Does Property Insurance Cover? Property insurance generally covers physical loss or damage to buildings, plant and machinery, stock, and contents caused by insured perils such as fire, lightning, explosion, storm, or burglary – subject to the sum insured, selected extensions, and policy exclusions. Exact coverage always depends on the specific policy wording. Property insurance […]
Fire Insurance – The Complete Guide
What Is Fire Insurance? Fire Insurance is a property insurance contract that indemnifies the insured for financial loss to buildings, machinery, stock, and other business or personal assets caused by fire and, under a Standard Fire and Special Perils (SFSP) policy, by 11 additional named perils such as lightning, explosion, storm, and riot damage. What […]