Fire and Allied Perils Insurance

Life is full of unexpected events and not all of them are pleasant. Natural calamities such as an earthquake, avalanche, storm or fire can put human life and property at risk. IKBZ offers the Standard Fire & allied Perils policy, which will support you in such trying times. This insurance policy safeguards you against the losses that can arise due to a fire and allied perils.

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Product Features
Product Features

Properties that are covered

The Policy covers the following assets based on (a) the agreed value or (b) the market value:

  1. Building (excluding the value of land)
  2. Plant & Machineries, Equipment & Accessories
  3. Stocks (Raw, Finished or In-process Goods and Belongings of Retailer, Wholesaler and Manufacturer)
  4. Furniture, Fixtures and Fittings and Other Contents

Exception: Specific Items such as bullion, unset precious stones, curiosity and work of arts for an amount exceeding Ks - 50,000, manuscripts, plans, drawings, securities, obligations or documents, stamps, coins or paper money, cheques, books of accounts, computer system records, etc ...


Perils Covered :

Basic Covers
This policy covers various immovable and movable assets mentioned above against loss or damage due to Fire, Lightning, and Explosion of home-used gas.

Moreover, the following types of losses are covered by Standard fire policy:-

  • Goods spoiled or property damaged by water or other used to extinguish the fire.
  • Pulling down of adjacent premises by the fire brigade in order to prevent the progress of flame.
  • Breakage of goods in the process of their removal from the building where fire is raging e.g. damage caused by throwing furniture out of window.

Add on Covers
You can decide to extend your insurance to cover other perils:

  • Riot, Strikes and Malicious Damage (RSMD)
  • Air Craft Damage
  • Impact Damage
  • Subsidence and Landslide
  • Earth–quake fire and Earth-quake shock
  • Explosion
  • Spontaneous combustion
  • Strom, Cyclone, Tempest ,Typhoon, Tornado, Hurricane (SCTTTH)
  • Flood and Inundation
  • Burglary
  • War Risk


Properties that are not covered:

Loss of or damage to the property insured directly or indirectly caused by or in consequence of fire:

  • theft during or after the occurrence of a fire
  • pollution or contamination
  • ionizing radiations and contamination by radioactivity
  • fermentation, natural heating, spontaneous combustion, its undergoing heating, drying process
  • the burning of property by order of any public authority and subterranean fire
  • nuclear weapons material
  • forests, bush, prairie, pampas or jungle and clearing of lands by fire
  • other exclusions as defined in the Policy



For Total Loss
The insured can obtain compensation up to the amount of sum insured for total loss of or damage to the property insured.

For Partial loss
Compensation up to the actual loss of the property destroyed by fire or perils will be paid to the insured.

How to Claim?
How to Claim?

If a misfortune befalls, leave the worry to us but please

  • intimate such loss / damage immediately so that a Competent Surveyor may be deputed to minimize the loss. IKBZ office or IKBZ agent or the employee of the company will guide you the steps to be done for claims. You will usually be required to complete and return a claim form.
  • give an account of all properties damaged or destroyed with estimated amounts having regard to their values as on the date and place of loss.
  • cooperate with surveyors by providing all the necessary documents for assessment of loss and establishing liability.
  • cooperate with the insurer in all their activities of entering the premises, taking possession of properties, their examining, sorting, removing or selling to your account, without prejudice.
  • inform particulars of all other insurances existing on the property at the time of loss.

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