Properties that are covered
The Policy covers the following assets based on (a) the agreed value or (b) the market value:
- Building (excluding the value of land)
- Plant & Machineries, Equipment & Accessories
- Stocks (Raw, Finished or In-process Goods and Belongings of Retailer, Wholesaler and Manufacturer)
- 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 :
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
- Spontaneous combustion
- Strom, Cyclone, Tempest ,Typhoon, Tornado, Hurricane (SCTTTH)
- Flood and Inundation
- 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