FIRE & ALLIED PERILS POLICY

• Fire
• Lightning
• Explosion / Implosion
• Aircraft damage
• Riot, Strike, Malicious damage (hereinafter called RSMD Perils)
• Storm, Tempest, Flood, Inundation, Hurricane, Cyclone, Typhoon and Tornado.
• Impact by any Rail/ Road vehicle or animal Subsidence / Landslide including rockslide.
• Bursting and / or overflowing of water tanks, apparatus.
• Leakage form Automatic Sprinkler Installation.
• Missile Testing Operation.
• Pollution or contamination resulting from any of the above perils Any insured peril resulting from pollution and contamination.
• Bush Fire

The policy automatically covers the following expenses incurred following loss / damage / destruction of a covered property as a result of the operation of an insured peril.

• Architects, Surveyors and Consulting Engineers’ Fees upto 3 % of the claim amount.
• Expenses incurred for removal of debris to clear the site upto 1 % of the claim amount.

Losses/ Expenses not covered:

• Applicable Deductibles as per policy
• Expenses incurred on Architects, Surveyors’ Consultant Engineers fees and Debris Removal in excess of 3% and 1% of claim amount respectively.
• Loss of earnings, loss by delay, loss of market or other consequential or indirect loss or damage of any kind.

Perils not covered:

• War and allied perils
• Ionising radiations and contamination by radioactivity
• Pollution or Contamination

Properties not covered:

• Items like manuscripts etc. unless specifically declared.
• Cold storage stocks due to change of temperature.
• Loss / damage/ destruction of any electrical and/or electronic machine,apparatus, fixture or fitting arising from over running, excessive pressure, short circuiting, arcing, self heating or leakage of electricity, from whatever cause including lightning.
• Loss / damage / destruction of Boilers, Economisers or other Vessels in which steam is generated machinery or apparatus subject to Centrifugal force, by its own explosion/ implosion.

The proposer shall describe all locations where the properties are built or installed or stored or kept at the inception Any change of location of risk shall be covered on intimation of such change. Change of ownership in the insured property shall be intimated so that the new owner may be covered be means of suitable endorsement. 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.

Fire Policy is an annual policy, generally, renewable each year. Long Term policy (for a minimum period of three years) can be considered for covering “dwellings” only with suitable discounts in premium. Cover for STFI and RSMD perils can be considered during currency (where they are deleted at inception by choice) in special circumstances. Policy can be cancelled at any time during the currency with suitable refund of premium for the unexpired period.

STFI and RSMD perils can be deleted at the inception of the policy for which suitable reduction in package premium rate is allowed.

• 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:
• Owners of Building and contents such as house hold articles, furniture etc.
• Shop Keepers.
• Educational/ Research Institutions.
• Hotels, Boarding and Lodgings, Hospitals, Clinics or such service providers.
• Industrial and Manufacturing Firms.
• Godown Keepers.
• Bailees, Lessor, Lessee, Banks, Financial Institutions, Mortgagors, Mortgagees.
• Traders in stocks.
• Trustees, Charitable Institutions.
• Transporters and C & F Agents.

• In addition to the perils/ expenses covered, the proposer can opt to seek cover in respect of the following perils/ expenses at inception or during currency of the policy on payment of additional premium :
• Perils:
• Loss/ damage/ destruction of the property caused by
• Deterioration of Stocks in Cold Storage premises due to power failure following damage due to an insured peril
• Forest Fire
• Impact Damage due to Insured’s own Vehicles, Fork lifts and the like and articles dropped there from
• Spontaneous Combustion
• Omission to insure additions, alterations or extensions
• Earthquake (Fire and Shock).
• Spoilage material damage cover.
• Leakage and contamination cover.
• Temporary removal of stocks.
• Terrorism.

• Architects , Surveyors and Consulting Engineer’s Fees (in excess of 3% claim amount)
• Debris Removal (in excess of 1% of claim amount)
• Loss of rent.
• Insurance of additional expenses of rent for alternative accommodation.
• Start up Expenses.

• If a misfortune befalls, leave the worry to us but please
• Intimate such loss / damage immediately so that a Competent Surveyor may be deputed to minimise the loss.
• Give an account of all properties damaged or destroyed with estimated amounts having regard to their values as on the date and place of loss.
• Cooperate with surveyors by providing all the necessary documents for assessment of loss and establishing liability.
• Cooperate with the insurer in all their activities of entering the premises, taking possession of properties, their examining, sorting, removing or selling to your account, without prejudice.
• Inform particulars of all other insurances existing on the property at the time of loss.

• Common Documents for all claims under a Standard Fire and Special Perils Policy:
  1. Certified True copy of the policy along with schedule and Endorsements/clauses.
  2. Claim Form.
  3. Newspaper reports on the incident, if any.
  4. Photographs.
  5. Past claims experience.




• Fire Claims (additional documents):

  1. Report of the Internal Committee constituted for the purpose of investigating the cause of fire.
  2. Fire Brigade Report.
  3. First Information Report / Letter of intimation to the Police Station duly endorsed / Police Panchnama.
  4. Forensic Laboratory Report on samples collected at affected site.
  5. Drug Inspector’s Report on destruction of Drugs/ Pharmaceutical items (for claim on pharma products only).
  6. Final Investigation Report.
  7. Action taken on the suggestion of TAC/ LPA on loss minimisation of prevention.




• Flood Claims (additional documents)
• Meteorological Report Explosion Claims (additional documents)
• Factory Inspector’s Report or Report of Director of Industrial Safety and Welfare.