Fire Insurance
Protection against fire, lightning, and direct physical damage to insured property.
Product Overview
The policy covers fire and lightning on the property insured.
This includes protection against the direct physical impact of fire, such as destruction or scorching, as well as damage resulting from electrical surges, power outages, or structural impacts caused by lightning strikes.
The coverage extends to the main insured structure, its permanent fixtures, and any contents explicitly listed in the policy schedule, subject to the terms, conditions, and exclusions specified in the policy document.
Coverage Levels
Core protection
Fire and lightning cover for the insured property, including direct physical loss or damage.
Extended cover options
The cover may be extended to include fire, lightning, explosion and implosion; aircraft damage, riot, strike, malicious damage and terrorism; storm, tempest, flood and inundation; impact damage and subsidence; landslide or rockslide; bursting and or overflowing of water tanks, apparatus and pipes; missile testing, leakage from automatic sprinkler installations and bush fire; earthquakes; riot and strike arson; malicious damage; architects, quantity surveyors and other fees; rent receivable or payable clause; and removal of debris.
Policy terms
All extensions remain subject to the policy terms, conditions, exclusions, and any additional premium requirements.
Benefits
Sum Insured
The fire cover will be issued on Depreciated Value (Indemnity Value) or on Reinstatement Value.
Premium
The premium is charged based on factors like construction of the building, trade and so on. Extension of cover calls for additional premium.
Deductibles
Specified for all other claims except claims preparations and Business Interruption - Time Excess (minimum 72 hours).