FIRE & ALLIED PERILS (PRIVATE & BUSINES)

WHAT IS FIRE & ALLIED PERILS

Fire insurance is property insurance that covers damage and losses caused by fire. The purchase of fire insurance helps to cover the cost of replacement, repair, or reconstruction of property, above the limit set by the property insurance policy. Fire insurance will protect your property and investments against loss or damage from perils such as fire, lightning and flooding. Fire insurance policies typically contain general exclusions, such as war, nuclear risks, and similar perils.

However, in order to ensure adequate protection of clients’ assets we usually advise them to extend the policy to cover malicious damage, riot and strike, storm, tempest and flood, water damage, impact damage by vehicle and aircraft, earthquake etc.; since a loss under the standard fire policy would not be adequate to indemnify the policyholder for loss caused by these perils.

SPECIAL PERILS

Perils – Anything that can cause a loss. Additional to standard fire policy includes:

• Bush Fire, Earthquakes, Tsunami
• Flood, Landslide, Mudslide
• Riot, Political Violence
• War, Rebellion, Mutiny, Civil Commotion
• Aircraft Device
  

SOME OF THE PROPERTIES COVERED

 Building:

        • Both under construction and completed projects
        • Interiors, partitions, and electrical

 Plant & Machinery, equipment and accessories

 Both new and second-hand Obsolete machinery

 Some other contents which are covered are cables, pipelines, furniture, fixture, household goods, etc.

THE RISKS COVERED

• Fire
• Lightning
• Explosion/implosion
• Aircraft damage
• Riot, strike, and terrorism damage
• Storm, cyclone, typhoon, and flood
• Impact damage
• Subsidence and landslide including rockslide
• Bursting and/or overflowing of water tanks, apparatus and pipes
• Missile testing operations
• Leakage from automatic sprinkler installations
• Bushfire