Fire & Allied Perils
Fire Insurance is governed by All India Fire Tariff issued by Tariff Advisory Committee, a Statutory Body.
- The Standard Fire and Special Perils (SFSP) Insurance can cover all properties on land (excluding cost of land), moveable or immoveable, at various locations against named perils.
- Special Types of Policies are designed for Stocks (declaration and floater), Building, Plant & Machinery keeping in mind the nature of property, proposers' requirements and basis of indemnification.
- Long Term Policies available for Dwellings with suitable discounts in premium.
- Policy can be extended to cover certain additional perils and expenses at additional premium.
- Concept of "one risk one rate" for all properties in an Industrial or Manufacturing Complex, for administrative convenience of the proposer.
- Who can take this Policy?
- Any person / firm / organization / 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.