Why Do We Need Fire Insurance?
Massive Fire in Mumbai’s Kamala Mills Compound Tragedy struck on the 29th of December with a fire breaking out in a pub in a building in the Kamala Mills compound. What should various Restaurants,Offices, Manufacturing Units, Godowns, Service Oriented Enterprises
Should learn from this incident Machinery&various other assets and are constantly exposed to risks, which can disrupt their daily working. It is important for all to have a Fire Insurance to financially protect themselves against losses or damages
A Fire Insurance Policy covers the financial loss which insured may suffer due to destruction of or damage to property or goods, caused by fire, during a specified period and up to agreed amount.
Importance of Fire Insurance Policy:
- Cover Against Natural disaster
- Protection to your valuable assets like building, machinery etc
- Reduces the Financial Burden
- Financial support at the time of Restart of Business
Risks covered under Fire Insurance Policy are:
- FireBush Fire
- Subsidence and landslide including Rock slide
- Riot, Strike, Malicious Damage
- Storm, Typhoon, Hurricane, Tornado, Flood and Inundation and many more..
Procedure for settlement of Claim:
Few instances of the losses which are not covered by fire insurance policy:
- Loss or damage of property due to nuclear perils war, invasion, act of foreign enemy
- Electrical/mechanical breakdown due over running or excessive usage
- Pollution or contamination
- Loss by theft during or after the happening of fire
Consult a Professional to know more about what can be covered under the policy before buying the Policy.
Go for optimum coverage and not just get attracted by cheaper Premium Amount.