How important is fire insurance for your business?

Although you may take every precaution and use the latest technology to ensure the safety of your business premises, you cannot completely rule out the possibility of an accident. Thus, fire insurance is both essential and recommended for your business. Why is fire insurance important? To understand the importance of fire insurance for your office […]

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Type of useful covers you can add to your Fire Insurance Policy

Apart from the perils that are covered by the standard fire insurance policy, you can opt for add-on covers with your fire insurance policy to cover additional risks upon payment of the additional premium amount. The type of covers available with a fire insurance policy is as follows: Damage caused to the stock lying in […]

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What is covered under a Fire Insurance Policy?

A fire insurance policy covers all properties— moveable or immovable, against various perils. The fire insurance policy has been renamed as the standard fire and special perils policy. So, in this article, we must discuss what is covered under a Fire Insurance Policy. Some of the properties covered under a fire insurance policy are: Building: […]

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How to file claims under a Fire Insurance policy in India?

If a misfortune befalls, take the following steps immediately: Inform losses or damages immediately to the insurance company so that a competent surveyor can come to ascertain total losses Give the estimated figures of damages Give full corporation to surveyors by giving them all the necessary documents for assessment of the loss Corporate with the […]

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Fire Insurance Policy- A Savior during Fire Damage

The start neither the eventual consequence of a fire can be predicted or known; because of which it is difficult to be prepared before hand for a fire or its consequences; and the only thing a person can do is to get protected to a certain limit by getting financial protection before hand through an […]

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What is earthquake extension clause in fire insurance?

A fire insurance policy covers the loss or the damage caused to the property due to fire. A standard policy provides the insured, the coverage against the perils as mentioned in his policy documents. Some of the perils are fire, lightning, aircraft damage, storm, typhoon, hurricane, etc. So let’s know what is earthquake extension clause […]

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What is the average clause in fire insurance?

A fire insurance policy has an average clause mentioned in it which takes care of the cases of under-insurance. If insured the assets in the fire insurance policy, for less than their full value, the insured requires to bear a proportion of the loss according to the average clause mentioned in the policy document. Since […]

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Which Expenses Are Covered by The Fire Policy?

A fire policy provides a cover for any losses occurred due to fire to property, stock, or assets. A fire insurance policy is a comprehensive policy that works as a contract between the insurer and the insurance company (see “What is Fire Insurance Policy?” here). It offers compensation for the losses that take place due […]

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What are the 12 perils of standard fire insurance policy?

A fire insurance policy is a contract between the policyholder and the insurance company to indemnify the insured for the financial losses suffered due to the destruction or the damage of the property/goods caused by the fire. All the movable and immovable properties like buildings, plants & machinery, equipment & accessories, stocks, and other contents […]

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