Following mentioned risks are covered
- Earthquake (Fire & shock)
- Aircraft Damage
- Impact damage
- Atmospheric Disturbance
- Bursting or overflowing of water tanks apparatus or pipes
- Riot and strike damage
- Malicious damage
Additional policy types, in addition to a Normal Fire policy and a Fire and Allied Perils policy are as under:
- Terrorism Policy which covers damages to insured property by any act of terror;
- Loss of Profits or a Consequential Loss Policy which is specifically designed to cover the fixed operational cost which is incurred while the normal working or production capabilities of any enterprise of manufacturing is halted due to any incident of Fire. This policy is available only in conjunction with a fire policy.
- Householders Comprehensive Policy, a package policy designed to cover residential houses, their contents, including a limited amount for valuables, Personal Accident cover, travel insurance and third party liabilities.
- Shop-owners Comprehensive Policy designed to cover small retailers against any unfortunate and fortuitous incident which could occur any time. Apart from the general coverage of fire and its allied perils for the building and its contents including stocks, this package policy also covers business money, plate glasses, infidelity of employees and third party liabilities
Enjoy the following benefits by Askari Fire Insurance
- Assistance for organizations in controlling their exposures to accidental fire
- Coverage for a wide range of properties including Buildings, Machineries, Stocks, Furniture, etc.
Any person / firm / organization / institution who may suffer financial loss in the event of operation of insurable perils may insure such property under the fire policy. They may be broadly categorized as under:
- Owners of Building and contents such as house hold articles, furniture etc
- Shop Keepers.
- Educational/ Research Institutions
- Hotels, Boarding and Lodgings, Hospitals, Clinics or such service providers
- Industrial and Manufacturing Firms
- Godown Keepers
- Bailees, Lessor, Lessee, Banks, Financial Institutions, Mortgagors, Mortgagees
- Traders in stocks.
- Trustees, Charitable Institutions
- Transporters and C & F Agents
Estimated cost of Reinstatement (material + labor) of a similar property as on the date of proposal along with suitable escalation for the policy period less depreciation for age.
In addition to the perils/ expenses covered, the proposer can opt to seek cover in respect of the following perils/ expenses at inception or during currency of the policy on payment of additional premium.
Perils: Loss, damage or destruction of the property caused by
- Forest Fire
- Impact Damage due to Insured's own Vehicles, Fork lifts and the like and articles dropped therefrom
- Spontaneous Combustion
- Temporary removal of stocks
Perils not covered:
- War and allied perils
- Ionizing radiations and contamination by radioactivity
- Pollution or Contamination
Properties not covered:
- Items like manuscripts etc. unless specifically declared.
- Cold storage stocks due to change of temperature.
- Loss / damage/ destruction of any electrical and/or electronic machine, apparatus, fixture or fitting arising from over running, excessive pressure, short circuiting, arcing, self-heating or leakage of electricity, from whatever cause including lightning.
- Loss / damage / destruction of Boilers, Economizers or other Vessels in which steam is generated machinery or apparatus subject to Centrifugal force, by its own explosion/ implosion.
- It is a practice to apply deductible to claimsas neither the client nor the insurer wishes to be troubled with handling small losses. Minor mishaps are inevitable on an Insured site and are usuallyreckoned in the risk.
- To comply with client wishes (e.g. Financial policy or risk management programme), higher deductibles may be applied, with suitable reduction in premium.
- Dully filled signed and stamped Proposal form
- Type of construction of buildings.
- Operational hazards.
- Level of safety and protections.
- Security Arrangement