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Products - Fire

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Note : A brief snapshot about the policy is given.For complete information refer to policy wordings or visit our nearest branch office.

Please refer to the “Note on Fire policy “

Fire floater policy is issued to cover stocks at various locations under one Sum Insured. The locations are to be specified in the policy.

  • Fire
  • Lightning
  • Explosion / Implosion
  • Aircraft Damage
  • Riot, Strike and Malicious Damage (RSMD)
  • Storm, Cyclone, Typhoon, Tempest, Hurricane, Tornado, Flood and Inundation (STFI)
  • Impact Damage
  • Subsidence and Landslide including Rock Slide
  • Bursting and/or overflowing of Water Tanks, Apparatus and Pipes
  • Missile Testing Operations
  • Leakage from Automatic Sprinkler Installations
  • Bush Fire

Important exclusions in the policy are as given below. (The list is not exhaustive. Please refer to full policy conditions for more details)

  • Excess.
  • Loss, destruction or damage caused by war, invasion, act of foreign enemy hostilities or war like operations (whether war be declared or not), civil war, mutiny, civil commotion military rising, rebellion, revolution, insurrection or military or usurpedpower.
  • Ionising radiations or contamination by radioactivity from any nuclear fuel or from any nuclear waste from the combustion of nuclearfuel.
  • Pollution or contamination.
  • Loss,destructionordamagetobullionorunsetpreciousstones,anycurios or works of art for an amount exceeding Rs. 10000/-, manuscripts, plans, drawings, securities, obligations or documents of any kind, stamps, coins or paper money, cheques, books of accounts or other business books, computer systems records, explosives, goods held in trust unless otherwise expressly stated in thepolicy.
  • Loss, destruction or damage to the stocks in Cold Storage premises caused by change oftemperature.
  • Loss, destruction or damage to any electrical machine, apparatus, fixture,or fitting arising from or occasioned by over-running, excessive pressure, short circuiting, arcing, self-heating or leakage of electricity from whatever cause (lightning included) provided that this exclusion shall apply only to the particular electrical machine, apparatus, fixture or fitting so affected and not to other machines, apparatus, fixtures or fittings which may be destroyed or damaged by fire so set up. 
  • Expenses necessarily incurred on (i) Architects, Surveyors and Consulting Engineer's Fees and (ii) Debris Removal by the Insured following a loss, destruction or damage to the Property insured by an insured peril in excess of 3% and 1% of the claim amountrespectively.
  • Loss of earnings, loss by delay, loss of market or other consequential or indirect loss or damage of any kind or descriptionwhatsoever. 
  • Loss, or damage by spoilage resulting from the retardation or interruption or cessation of any process or operation caused by operation of any of the perilscovered.
  • Loss by theft during or after the occurrence of any insured peril except as provided under Riot, Strike, Malicious and Terrorism Damagecover.
  • AnyLossordamageoccasionedbyorthroughorinconsequencedirectlyor indirectly due to earthquake, Volcanic eruption or other convulsions of nature.
  • Lossordamagetopropertyinsuredifremovedtoanybuildingorplaceother than in which it is herein stated to be insured, except machinery and equipment temporarily removed for repairs, cleaning, renovation or other similar purposes for a period not exceeding60 days.
1. Removal of Debris (in excess of 1% claim amount)

Deterioration of Stocks in Cold Storage premises due to accidental power failure consequent to damage at the premises of Power Station due to an insuredperil

Deterioration of stocks in cold storage premises due to change in temperature arising out of loss or damage to the cold storage machinery(ies) in the Insured's premises due to operation of insuredperil

3. Forest Fire
4. Impact Damage due to Insured's own Rail/Road Vehicles, Fork lifts, Cranes, Stackers and the like and articles dropped therefrom
5. Spontaneous Combustion
6. Earthquake (Fire and Shock)
7. Leakage And Contamination Cover

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