Fire Insurance

The Insurance Policy broadly covers losses due to fire, lightning, explosion and implosion, aircraft damage, riot, strike, malicious damage and terrorism, storm, tempest, flood and inundation, impact damage, subsidence and landslide/rockslide, bursting and/or overflowing of water tanks, apparatus and pipes, missile testing, leakage from automatic sprinkler installations and bush fire.


Significant exclusions:

  • The Insurance Policy does not cover the first Rs.10,000 (or as applicable) of each and every claim. Losses arising out of war and allied perils, theft, willful act or gross negligence, loss of earnings, loss to bullion, documents, currency etc. for an amount exceeding Rs. 10,000, unless expressly stated.

Sum Insured:

  • Property can be insured on depreciated cost (market value) or replacement cost basis. In order to get full protection, insurance on reinstatement (replacement) basis is recommended.


  • Premium rate depends on construction of building and occupancy. Discount/loading in premium is given based on past claims experience for risks exceeding Rs. 50 crores Sum Insured at any location and installation of Fire Extinguisher Appliances.


  • 5 % of every claim resulting from Lightning, Storm, Tempest, Flood and Inundation, Subsidence and Landslide.


  • Earthquake (Fire & Shock)
  • Spontaneous Combustion
  • Deterioration of stocks in cold storage
  • Impact Damage due to own vehicles
  • Omission to insure additions
  • Architect, Surveyors & Consulting engineer’s fees in excess of 3 % of claim amount
  • Debris removal in excess of 1 % of claim amount.