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.