Fire and Special Perils

COVER- This Insurance covers the loss or damage arising out of not only the peril of Fire but also damages caused by lighting, riot and strike, storm, tempest, flood and inundation as well as earthquake, impact damage. One can insure their Building, furniture and fixtures, machinery, electronic equipment, stocks and other contents in the premises under this Policy.

Fire and Allied Perils insurance business governed by the erstwhile AIFT, 2001 stand de-notified with effect from 1st April, 2021 by new Fire Product as below:-

for Home Building and/or Home Contents:-As a

• Fire (No specific exclusion regarding inherent vice, spontaneous combustion etc.)
• Explosion / Implosion (No specific exclusion like boiler)
• Lightning
• Earthquake, Volcanic eruption & other convulsions of nature
• Storm, Cyclone, Typhoon, Tempest, Hurricane, Tornado, Tsunami, Flood & Inundation
• Subsidence, Landslide, rockslide Bush fire, Forest Fire, Jungle Fire As a Owner insured wLoss of rent for specified sum insured & months
• Rent for alternate accommodation for specific sum insured & months
• Architects’, Surveyor & Consulting Engineers Fees up to 5% of claim amount
• Removal of debris upto 2% of the claim .
• Basis of Sum Insuredner insured can purchase Home BFor residential structure of Home including fittings and fixtures: Carpet area of the structure in square metres X Rate of Cost of Construction at the policy Commencement Date.

The Rate of Cost of Construction is the prevailing rate of cost of construction of Home Building at the policy Commencement Date.For additional structures: the amount that is based on the prevailing rate of cost of construction at the Policy Commencement Date For General Contents – Sum Insured represents Cost of Replacement Valuable Contents on Agreed Value Basis.

for all the risks where the total ‘value at risk’ exceeds ₹ 5 Crore (Rupees Five Crore) but does not exceed ₹ 50 Crore (Rupees Fifty Crore) across all insurable asset classes at any one location at the commencement of the insurance cover other than dwellings with per location SI Rs.5cr<=SI<=Rs.50crCr across all asset classes at any one location with Excess 5 % of each claim, subject to a minimum of ₹ 10,000/- other than Terrorism

Items covered

• Any building or structure incl
• Basement
• all fixtures and fittings permanently attached to the floor, walls or roof like electrical wiring, antennas etc.
• additional structures
• garage, out-houses, security sheds, towers, verandah or porch, tanks, compound walls, retaining walls, fences and gates, internal roads
• lifts, hoists
• solar panels, wind turbines and air conditioning systems, central heating systems, security systems and cameras, electrical installations, fire alarm, fire sprinkler systems, power lines, power installations
• water, gas and sewage pipeline within the premises
• any other structure shown in the Policy Schedule
• Plant and Machinery, that is, all equipment, machinery, pipes and cables, spares, computers, servers and preloaded licensed system software including
• machines under repair
• machines taken on hire or lease, or any system of purchase of goods
• foundation, bedding or setting of the machines
• accessories of machines
• Stock of goods or merchandise
• finished goods, semi-finished goods, stock in process, stock invoiced and ready for dispatch
• raw materials, packing materials
• stock accepted for job work for which You are responsible
• stock held in trust for which You are responsible
• stock in Open in the Insured Premises
• All other assets:-furniture and fixtures, office equipment, telephone equipment, electronic equipment, computers etc

canteen and kitchen equipment, gym and permanent sports equipment etc.

Main In-built covers

Underinsurance waiver upto 15% Additions, alterations or extensions upto 15% of the Sum Insured Temporary removal of stocks
Professional fees Machinery and equipment temporarily removed for repairs, cleaning, renovation or other similar purposes for a period not exceeding 60 days Removal of debris Start-Up Expenses.