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Reliance Fire Insurance

Standard Fire & Special Perils

The policy can be issued to cover -
Buildings (including those under construction), Plant, Machinery and Equipment including Hospital & Office Equipment, Instruments, tools and accessories of various kinds, Electrical installations, Furniture, Fixtures and Fittings, Stocks of all kinds pertaining to industry and trade, Books, Periodicals and Stationery, Household Articles.

The policy covers -
1. Fire, lightning, explosion/implosion
2. Aircraft damage
3. Riot, strike, malicious damage (RSMTD)
4. Storm, tempest, flood, inundation (STFI)
5. Impact damage, Subsidence and landslide
6. Bursting and/or overflowing of water tanks, apparatus and pipes
7. Missile testing operations
8. Leakage from automatic sprinkler installation,
9. Bush fire
10. Architect´s fees not exceeding 3% of claim, cost of removal of debris not exceeding 1% of claim
11. Temporary removal of plant and machinery upto 60 days

The policy does not cover-
1. Destruction / damage by own fermentation, natural heating or spontaneous combustion
2. Property undergoing any heating or drying process
3. Burning of property insured by order of any public authority
4. Explosion/implosion damage to boilers, damage caused by centrifugal forces
5. Forest Fire, War and nuclear perils
6. Bullion, curios, works of Art, cheques, currency etc (unless specified)
7. Electrical short circuits, consequential losses
8. Theft during/after operation of peril,

The policy provides for following extensions-
1. Architect´s, Surveyor´s and Consulting Engineers fees exceeding 3% of claim
2. Removal of debris exceeding 1% of claim
3. Deterioration of stocks in cold storage resulting from accidental power failure due to an insured peril
4. Deterioration of stocks in cold storage consequent to change in temperature
5. Forest Fire
6. Impact damage due to insured's own vehicle,
7. Spontaneous Combustion
8. Omission to Insure additions, alternation or extensions upto 5% of Sum Insured
9. Earthquake (Fire and shock)
10. Spoilage material damage, leakage and contamination, Loss of rent
11. Temporary removal of stocks
12. Additional expenses for rent for an alternative accommodation
13. Start up expenses

Discounts applicable-
1. Claims experience discount upto 15% for sum insured exceeding Rs.50 crores per location
2. Fire extinguishing appliance (FEA) discount upto 10%
3. Reduction in rate is allowed due to deletion of STFI & RSMTD perils

Voluntary Deductibles-
As per All India Fire Tariff
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