FIRE AND SPECIAL PERILS INSURANCE

FIRE AND SPECIAL PERILS INSURANCE

The fire and special periled insurance policy provides a comprehensive cover for damages caused to the structure, stock and contents within the insured structured due to fire, storm flood, lightening, landslide, air craft damage, miscible testing operations and other natural and man made calamities.

The insured also has the option of choosing additional covers like cover against earth equake, terrorist activities, burglary (for stock and contents) etc along with the fire cover.

 

COVERAGE

The policy provides protection against damages/fortuities triggered by the following perils.

·                     Fire-Excluding destruction or damage caused to the property insured by

·                      Its own fermentation, natural heating or spontaneous combustion.

·                     It’s undergoing any heating or drying process.

·                     Lightning

·                     Explosion/Implosion-excluding destruction or damage caused to the boilers (other than domestic boilers), by its own explosion/implosion.

·                     Aircraft damage

·                     Riot, strike and malicious damage

·                     Storm, cyclone, typhoon, tempest, hurricane, tornado, flood and inundation.

·                     Impact damage

·                     Impact by any rail/road vehicle or animal by direct contact.

·                     Subsidence and landslide including rock slide.

·                     Bursting and/or overflowing of water tanks, apparatus plus pipes.

·                     Missile testing operations.

·                     Leakage from automatic sprinkler installations.

·                     Bush fire-excluding destruction or damage caused by forest fire.

ADVANTAGES

·                     This is a single comprehensive package covering a wide range of fire and other related perils.

·                     It provides cover for the structured and its contents as well.

·                     The policy is designed to suit for residential as well as commercial and industrial structures.

PREMIUM

The premium for fire insurance is based on the nature of structure and contents. The premium rate is available on request.

CLAIM PROCESS

·                     Insured lodges a claim at the call center at the number printed on policy document.

·                     Call center intimates the concerned customer service manager (CSM).

·                     CSM calls up the insured and gets the relevant details.

·                     CSM would either appoint a surveyor or conduct self-survey. Survey to be conducted in 48 hours or 2 working days.

·                     CSM to revert on claim status- acceptance or rejection or requisition of additional documents in 2 working days time after the survey.

·                     After receipt of relevant documents the claim would be settled.