Fire Insurance

Fire Insurance

Large corporate, which have a multi-location, multi-business presence, need to protect their operations. Insurance is an essential tool to protect yourself against losses that could devastate your business. The Reliance Standard Fire and Special Perils Policy offers the corporate, coverage against Industrial/manufacturing risks like fire, lightening, explosions and also covers property located outside the compound of Industrial/ Manufacturing risks. The policy offers a combination of standard and optional features so that they can choose the cover that’s most appropriate.

Standard Fire and Special Perils Policy Coverage
Property that can be covered under this policy includes

Industrial or manufacturing risks

Property located outside the compounds of industrial or manufacturing risks, namely

  • Dwellings, offices, hotels, shops, etc.
  • Utilities
  • Storage risks
  • Tank farms/gas holders
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Architects, surveyors and consulting engineers

Fees up to three percent of claim amount
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Debris removal

Up to one percent of claim amount.
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Key Benefits

Comprehensive coverage to your property
You can enhance the cover with a wide range of add-ons
Allows selection of the options relevant to you
Options like Floater Policy, Declaration Policy and Floater Declaration Policy available
Attractive discounts on long term policies for “dwellings”
Discounts available if you delete the covers that you do not need
Discounts for favorable claims experience
Discounts for risk improvement measures like installation of fire extinguishing appliances
Policy Options
This policy can be customized as per business needs. The following covers are available at an extra premium:
This policy can be customized as per business needs. The following covers are available at an extra premium: Earthquake (fire and shock), Fees to architects, surveyors and consulting engineers in excess of 3% of claim amount, Debris removal in excess of 1% of claim amount, Deterioration of stocks in cold storage due to :Accidental power failure resulting from damage at the premises of power station due to an insured peril. Change in temperature arising out of loss or damage to the cold storage machinery in the insured premises due to operation of insured peril. Forest fire, Impact damage due to insured’s own rail/ road vehicles, forklifts, cranes, stackers and the like and articles dropped there from, Spontaneous combustion

Omission to insure additions, alterations or extensions,Spoilage material damage,Leakage and contamination,Temporary removal of stocks clause,Loss of rent clause Additional expenses towards rent for an alternative accommodation,Start–up expenses, Molten metal spillage,

You can also choose from the following three variants:

Floater Policy: Appropriate for stocks at various locations under a single sum insured

Declaration Policy: Takes care of frequent fluctuations in stock/stock values

Floater Declaration Policy: Combines the features of both floater and declaration policies

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