Things To know About Fire Insurance Policy


Things To know About Fire Insurance Policy

Fire insurance is property insurance that covers damage and losses caused by fire. The purchase of fire insurance in addition to homeowners or property insurance helps to cover the cost of replacement, repair, or reconstruction of property, above the limit set by the property insurance policy.

Coverage under fire insurance policies

Fire insurance plans not only cover losses suffered by fire but also losses suffered by other perils. The common perils which are covered under fire insurance policies include the following –

1) Fire, explosion or implosion

2) Lightning

3) Damage due to an aircraft

4) Strikes, riots or any other type of malicious acts which cause damage

5) Storm, typhoon, flood and inundation which is collectively called STFI

6) Impact damage which occurs on impact with road or rail vehicles, animals, etc.

7) Subsidence, rockslides or landslides

8) Overflowing or bursting of water tanks, pipes and other apparatus

9) Missile testing operations and the damages caused thereof

10) Water leakage from automatic sprinkler installations which causes damage

11) Bush fire

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