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The New India Assurance Industrial Insurance |
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Fire Policy
Highlights
• Fire Insurance is governed by All India Fire Tariff effective from 31.3.2001 issued by Tariff Advisory Committee, a Statutory Body.
• The Standard Fire and Special Perils Policy covers all properties on land (excluding cost of land), moveable or immoveable, at various locations against named perils.
• Special Types of Policies are designed for Stocks (declaration and floater), Building, Plant & Machinery keeping in mind the nature of property, proposers requirements and basis of indemnification.
• Long Term Policies available for Dwellings with suitable discounts in premium.
• Policy can be extended to cover certain additional perils and expenses at additional premium.
• Certain perils can be deleted with discount in premium rates.
• Discount in premium available for good claims experience for sum insured more than Rs. 50 crores in one location and for installation of fire extinguishing appliances.
• Concept of “one risk one rate” for all properties in an Industrial or Manufacturing Complex, for administrative convenience of the proposer.
Perils Covered:
• Fire
• Lightning
• Explosion / Implosion
• Aircraft damage
• Riot, Strike, Malicious and Terrorism damage (hereinafter called RSMTD Perils)
• Storm, Tempest, Flood, Inundation, Hurricane, Cyclone, Typhoon and Tornado.
• Impact by any Rail/ Road vehicle or animal
• Subsidence / Landslide including rockslide.
• Bursting and / or overflowing of water tanks, apparatus.
• Leakage form Automatic Sprinkler Installation.
• Missile Testing Operation.
• Pollution or contamination resulting from any of the above perils
• Any insured peril resulting from pollution and contamination.
• Bush Fire
Expenses Covered:
The policy automatically covers the following expenses incurred following loss / damage / destruction of a covered property as a result of the operation of an insured peril.
1. Architects, Surveyors and Consulting Engineers Fees upto 3 % of the claim amount.
2. Expenses incurred for removal of debris to clear the site upto 1 % of the claim amount.
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 Top Providers |
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ICICI Prudential Life |
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SBI Life Insurance |
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Life Insurance Corp. |
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Bajaj Allianz Insurance |
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United India Insurance |
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