Express360 IFS : Fire & Burglary Insurance

Fire & Burglary Insurance

Fire & burglary insurance provides coverage for physical loss or damage caused to the building or structure.
There are three plans under Fire and burglary insurance according to the required sum insured amount of the customer.
For sum insured amount upto Rs 5 Crores: Sookshma Udyam Suraksha.
For sum insured amount between Rs 5-50 Crores: Laghu Udyam Suraksha.
For sum insured amount more than Rs 50 Crores: Standard Fire Special Peril (SFSP).

Fire insurance provides coverage for loss or damage caused due to fire, fermentation, natural heating or spontaneous combustion.
Plant and machinery, stock of goods and other assets related to the business are also covered under property insurance.
Loss or damage caused due to implosion and explosion is covered under the fire insurance policy.
Damage caused due to natural calamities such as earthquakes, volcanic eruptions, storms, cyclones, typhoons, etc. is covered.
Loss or damage caused due to malicious acts, riots and strikes is covered under burglary insurance.
The act of terrorism is covered as per the clause attached to the policy documents.
Under insurance is waived up to 15% of the sum insured.
Theft cover is provided under the fire and burglary insurance policy within 7 days (subject to document submission) in case of any insured peril event.
Loss or damage caused due to bursting and overflowing of water tanks, pipes and apparatus are also covered under building insurance.