Property Insurance

Property All Risks

Property All Risks policy provides you with a broader coverage than Fire & Allied Perils Policy. This insurance policy covers accidental loss or damage to your insured property. The scope of cover is limited by a set of exclusions.
Some of the important exclusions are:

  • Electrical, mechanical breakdown
  • Deterioration of property due to change in temperature or humidity or inadequate air-conditioning, cooling or heating system.
  • Subsidence, ground heave, land slip, erosion, settling or crack-ins.
  • Damage to equipment during installation or dismantling operations.
  • Property in course of construction or erection.
  • Property in course of manufacture.
  • Money, cheques, securities of all kinds etc.
  • Contamination, pollution, wear and tear, corrosion.
  • Loss resulting from dishonesty, fraudulent action, infidelity.
  • Kindly note that the list above is not exhaustive. In order to get the full details of the coverage, please contact us to send you the policy wording.

The cover can be extended to include loss of income following an interruption of business activity due to damage to property by a peril not specifically excluded under the policy. PAR cover is suitable for large, commercial and industrial risks.

Download the Property All Risks Proposal form here.Contact Us for More Information

Fire and Allied Perils

Fire & Allied Perils policy insures the building or its contents or both. Building can be your house or your business. This insurance policy covers damage, loss or destruction of property caused by the following perils: fire & lightning, explosions, aircraft, earthquake, storm and tempest, flood, escape of water from any tank, apparatus or pipes, Impact by any road vehicle or animal, riot, Strike and malicious damage and burglary.

This policy can be extended to cover loss of income and fixed charges of running the business due to interruption of business caused by any of the perils mentioned above which results in damage to the property insured.

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Business Interruption / Loss of Profits

Business Interruption Insurance covers the profits that would have been earned, based on the financial records, had the disaster not occurred.The policy also covers operating expenses (standing charges). It also reimburses reasonable extra expenses (increased cost of working) incurred over and above normal operating expenses, to avoid or decrease loss of earnings or profits. It protects a business owner against losses resulting from a temporary shutdown because of fire or other insured peril. Generally, business interruption insurance provides reimbursement for lost net profits and necessary continuing expenses (also known as standing charges).

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