Fire Insurance Basics


Fire insurance provides protection against unforeseen damage to or destruction of moveable and immovable property due to fire and other perils.

Types of property that can be covered under fire insurance are buildings, plant and machinery, equipment, stock and content like furniture and fixtures, cables, etc.

Other perils covered include lightning, explosions, malicious damage, natural disasters, impact damage, subsidence and landslide, and bursting of water tanks.

Loss or damage caused by war and war-like operations, nuclear perils, pollution or contamination, electrical/mechanical breakdowns, burglary and housebreaking are not included.

Fire insurance policies are issued for one year, except for dwellings, where a policy may be issued for long term (with a minimum period of three years).


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