In the simplest form, a Fire Insurance Policy provides indemnity for loss or damage incurred by the insured for fire, lightning or explosion.

A regular fire policy will provide coverage to the insured building’s garage, supplementary building, water tank, lift or walking stairs in the building and attached items like TV antenna.

The insured building’s fence, pools (decorative or swimming), sculptures and statutes, water fountains in the garden need to be stated on the policy.

In terms of movable items, anything inside the insured building is covered with a stated limit.

Your valuables like antiques, paintings, collection items, valuable papers like business contracts or an architect’s drawings etc., money, jewelers, valuable metals and stones, stocks and so on can also be included in the policy with a complementary contract.

You can also extend your fire insurance policy coverage to the following perils:

  • Strike, riots, civil commotion,

  • Earthquake and volcanic eruptions

  • Flood & Water

  • Interior Water Damages

·        Smoke

  • Vehicle hits (air, sea or land)

  • Terrorism

  • Malicious Acts

  • Landslide

  • Hurricane

  • Windstorm

Additional coverage

-          Third Party Liability (damages done to neighbours due to fire, inflation or lightning);

-          Redemption for damages to let goods being carried on air, sea or land vehicles;

-          Rent losses and rubble-cleaning costs can also be included with a complementary contract.

What this policy does not cover:

-          War

-          Nuclear risks

-          Damages that may be caused by the local and/or government authorities

-          Burns that may result not from a fire but due to the good’s deficiency

-          Burning without flame but as a result of being contact with hot iron, oven, lamp or candle. 

-          Damages caused by changes in the electricity current caused by local authorities

-          If the insured goods are burned for the benefit of the total

-          Damage on doors due to mechanical forces or high pressure

Excess or Insufficient Insurance

With Excess Insurance the insurance company is liable only with the actual value of the insured items as determined by an expert.

With Insufficient Insurance, the company is liable only with the ratio insured value over actual value. See CLAIMS  

 What must be done if damage occurs?

Assuming the insured/customer has taken all preventive actions in order to prevent and stop any accidental risks, once damage occurs, the insurer must try to stop further damages and call for official help from fire brigades, police etc. After the damage has occurred, the insured must call us for inspection on the site.  After necessary inspections are done and an expert sees the site, redemption is paid.  See CLAIMS.

To buy a Fire Insurance Policy ____