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Fire Insurance

Fire Insurance

A fire has the potential to destroy a property or a business, leading to losses of great scale. To get compensated for such losses, you can opt for fire insurance, covering your movable and immovable property.

A fire insurance is an important part of a Property Insurance policy, that helps protect your residential, commercial or industrial properties such as apartment buildings, office spaces, shops and factories from any damages and losses that could occur due to a fire.

Standard Fire and Special Perils Policy

Standard Fire And Special Perils Insurance is a traditional cover that offers protection against fire and allied perils which are named in the policy. The policy can cover building (including plinth and foundation), plant and machinery, stocks, furniture, fixtures and fittings and other contents.


Some of the benefits of fire policy:

  • In the case of factory and office, the policy provides cover for damage to furniture fixtures fittings due to fire and/or allied perils.
  • The insurance also covers the cost of repair of machines damaged due to Fire policy perils.
  • Economical rates of premium
  • Wider coverage - which includes losses due to natural calamities like Earthquake, Storm, Floods and inundation etc.also.


The standard policy covers the following perils:

  • Fire

  • Lightning

  • Explosion / Implosion

  • Aircraft Damage

  • Riot, Strike, Malicious Damages (RSMD)

  • Storm, Tempest, Cyclone, Typhoon, Hurricane, Tornado, flood, inundation (STFI)

  • Impact damage by any rail/ road/ vehicle/ animal (other than own)

  • Subsidence, Landslide and Rock slide

  • Missile Testing operations

  • Bush Fire

  • Bursting and/or overflowing of Water Tanks, Apparatus and Pipes

  • Leakage from Automatic Sprinkler Installations


The standard policy does not cover the following perils:

  • Willful acts or gross negligence 

  • Forest Fire, War and Nuclear group of perils

  • Unspecified precious stones, cheques, currency, documents, etc. unless specifically declared

  • Terrorism

  • Underground fire

  • Loss because of theft during or after the fire

  • Malicious or hostile, human-made causes of fire

This list does not include all the exclusions as they vary for different providers.

Claim Process

In case of loss or damage, you need to follow these steps for making a claim:

  • Immediately inform the insurance provider 

  • Contact the fire brigade and the police

  • Provide full cooperation to the insurance company appointed surveyor for scrutiny of the situation

  • Submit duly filled claim form and other proofs and photographs

  • Once approved, the claim can be settled from 15-30 days, depending on the respective insurer’s process

Interested to know more?

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