Scope

Properties that are covered:

All moveable/ immoveable properties of the proposer on land (excluding those in transit) broadly categorised as follows:

1. Building (including plinth and foundations, if required):
   • Whether completed or in course of construction (excluding the value of land).
   • Interiors, Partitions and Electricals.
2. Plant & Machinery, Equipment & Accessories (including foundations, if required)
3. Stocks:
   • Raw Material
   • Finished Goods
   • In process
   • In trade belonging to Wholesaler, Manufacturer and Retailer.
4. Other Contents such as
   • Furniture, Fixtures and Fittings
   • Cables, Pipings
   • Spares, Tools and Stores
   • Household goods etc.

Perils Covered:

• Fire
• Lightning

SPECIAL PERILS EXTENSIONS

• Explosion
• Earthquake and Volcanic eruption
• Aircraft damage
• Riot, Strike, Malicious
• Storm, Tempest, Flood, Inundation, Hurricane, Cyclone, Typhoon and Tornado.
• Impact damage
• Collapse due to Subsidence &
• Bursting and / or overflowing of water tanks, apparatus.
• Leakage form Automatic Sprinkler Installation.
• Bush Fire
• Spontaneous Combustion
• Smoke

Location of Risk:

1. The proposer shall describe all locations where the properties are built or installed or stored or kept at the inception
2. Any change of location of risk shall be covered on intimation of such change.
3. Change of ownership in the insured property shall be intimated so that the new owner may be covered by means of suitable endorsement.
4. Any material change in the location of risk, trade or manufacturing activities shall be intimated to the insurer so that the changes are endorsed to offer continuous cover.

Who can take the policy?

Any person / firm / organisation / institution who may suffer financial loss in the event of operation of insurable perils may insure such property under the fire policy. They may be broadly categorised as under:

1. Owners of Building and contents such as house hold articles, furniture etc.
2. Shop Keepers.
3. Educational/ Research Institutions.
4. Hotels, Boarding and Lodgings, Hospitals, Clinics or such service providers.
5. Industrial and Manufacturing Firms.
6. Godown Keepers.
7. Bailees, Lessor, Lessee, Banks, Financial Institutions, Mortgagors, Mortgagees.
8. Traders in stocks.
9. Trustees, Charitable Institutions.
10. Transporters and C & F Agents.

How to claim?

If a misfortune befalls, leave the worry to us but please

• intimate such loss / damage immediately so that a Competent loss adjuster may be deputed to assess & minimise the loss.
• give an account of all properties damaged or destroyed with estimated amounts having regard to their values as on the date and place of loss.
• cooperate with adjuster by providing all the necessary documents for assessment of loss and establishing liability.
• cooperate with the insurer in all their activities of entering the premises, taking possession of properties, their examining, sorting, removing or selling to your account, without prejudice.
• inform particulars of all other insurances existing on the property at the time of loss.

Documents required by insurer for processing the claim:

Common Documents for all claims under a Fire and Special Perils Policy:

1. Copy of the policy along with schedule and Endorsements/clauses.
2. Claim Form.
3. Newspaper reports on the incident, if any.
5. Past claims experience.

Fire Claims (additional documents)

• Fire Brigade Report.
• First Information Report / Letter of intimation to the Police Station duly endorsed / Police summary
• Forensic Laboratory Report on samples collected at affected site.
• Drug Inspector’s Report on destruction of Drugs/ Pharmaceutical items (for claim on pharma products only).
• Final Investigation Report.
• Flood Claims (additional documents):
• Meteorological Report
• Explosion Claims (additional documents):
• Factory Inspector’s Report or Report of Director of Industrial Safety and Welfare.