Standard Fire and Special Perils Insurance Policy

  •  About Policy 
  •    Scope of Cover 
  •    Additional Covers 
  •    Exclusions 
  •    Rating 

About Policy

Fire insurance policy is suitable for you if you own a property or for someone who holds property in trust or in commission; or you are an individual or a financial institution that has financial interest in the property. This policy is Ideal for SME's and Corporates alike, those who need coverage for their business against uncontrollable situations that can devastate property and businesses.

Policy rates and terms are governed by the All India Fire Tariff. The normal policy period is 12 months though a long term policy is available for houses.

All immovable and movable property located at a particular premise such as buildings, plant and machinery, furniture, fixtures, fittings and other contents, stocks and stock in process along with goods held in trust or in commission including stocks at supplier's/ customer's premises, machinery temporarily removed from the premises for repairs can be insured.

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Scope of Cover


  • Fire
  • Lightning
  • Explosion/implosion
  • Aircraft damage
  • Riot, strike, malicious damage
  • Storm, cyclone, typhoon, tempest, hurricane, tornado, flood and inundation
  • Impact damage
  • Subsidence and landslide including rock slide
  • Bursting and overflowing of water tanks, apparatus and Pipes
  • Missile testing operations
  • Leakage from automatic sprinkler installation
  • Bush Fire

Additional Covers


  • Earthquake (Fire & Shock)
  • Spontaneous combustion
  • Deterioration of stocks in cold storage premises due to accidental power failure consequent to damage at the premises of power station due to an insured peril
  • Deterioration of stocks in cold storage premises due to change in temperature arising out of loss or damage to the cold storage machinery (ies) in the insured's premises due to operation of an insured peril
  • Architects, Surveyors and Consulting Engineers Fees ( in excess of 3% claim amount)
  • Removal of Debris (in excess of 1% claim amount)
  • Forest fire
  • Impact damage due to insured's own rail/road vehicles, forklifts, cranes, stackers and the like and articles dropped from the
  • Omission to insure additions, alterations or extensions clause
  • Spoilage material damage cover
  • Leakage and contamination cover
  • Temporary removal of stocks
  • Loss of rent
  • Rent for alternate accommodation
  • Terrorism



  • Excess amount
  • Loss or damage caused by war or war like situations
  • Loss caused by ionising radiations or contamination by radioactivity from any nuclear fuel or from any nuclear waste.
  • Loss or damage by pollution or contamination except due to insured peril
  • Loss, destruction or damage to bullion or unset precious stones, any curios or works of art for an amount exceeding Rs.10,000/- unless expressly stated in the policy.
  • Loss, destruction or damage to the stocks in Cold Storage premises caused by change of temperature.
  • Loss, destruction or damage to any electrical machine, apparatus, fixture, or fitting arising from or occasioned by over-running, excessive pressure, short circuiting, arcing, self-heating or leakage of electricity.
  • Loss of earnings, loss by delay, loss of market or other consequential or indirect loss or damage of any kind or description whatsoever.
  • Loss, or damage by spoilage resulting from the retardation or interruption or cessation of any process or operation caused by operation of any of the perils covered.
  • Loss by theft during or after the occurrence of any insured peril except as provided under Riot, Strike, Malicious and Terrorism Damage cover.
  • Fire due to own fermentation, natural heating or spontaneous combustion of the stocks or by their undergoing any heating or drying process
  • Burning by order of any public authority
  • Explosion of boilers or steam generating vessels & machinery resulting from their own explosion/implosion or caused by centrifugal forces.
  • Pressure waves generated by the  aircraft
  • Total or partial cessation of work/retarding/interruption of any process or operations arising out of riot, strike, malicious damage
  • Burglary, house breaking, theft, larceny arising out of riot, strike, malicious damage
  • Impact damages by rail/road vehicle/animal belonging to the insured or employee or any occupier of the premises
  • Normal cracking, settlement, bedding down, upheaving of land/structures, coastal or river erosion, defective design, workmanship or use of defective materials
  • Destruction or damage caused by forest fire


Rating depends on

  • The type of occupancy-whether industrial or otherwise.
  • Claim experience.
  • Fire protection system.
  • Add-on covers opted.

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