Fire Insurance for Your Property, Plant and Stock-in-Trade
Fire Insurance covers physical loss or damage to fixed assets VIZ buildings (including plinth foundation), Compound Wall, Plant & Machinery, Electrical Installations, furniture, fixture, fittings, stock, ETC caused by fire, lightning, explosion and other allied perils as per policy terms.
Coverage for buildings, plant, machinery and contents
Add-ons for earthquake, flood, storm and other natural perils
Protection for raw materials, finished goods and stock-in-process
Options for declaration or floater policies for fluctuating stocks
Basis of indemnity: reinstatement or market value, as selected
Frequently Asked Questions
What perils are covered under fire insurance?
Fire, lightning, explosion and allied perils like storm, flood and riots, as per policy.
Can I cover both building and stock under one policy?
Yes, you can insure building, machinery and stocks under a single fire policy schedule.
How is the sum insured for stock decided?
Usually based on maximum value at risk at any point of time; declaration and floater options are available.
Is business interruption covered in fire insurance?
Not automatically; you need a separate Loss of Profit/Business Interruption cover.
Are minor damages and smoke stains covered?
Physical damage from insured perils is covered; cosmetic issues alone may not be.
For Who & Why Fire Insurance is important?
For manufacturers, traders and service providers, a single fire incident can disrupt operations and wipe out years of investment. This cover helps you restore damaged assets and resume business with minimal financial strain.
