| Covers Property Damage against
FIRE & LIGHTNING as the basic cover (including explosion
of domestic boilers and gas installations). This policy is
usually extended to cover following additional perils: Explosion,
Impact Damage, Aircraft Damage, Bursting and Overflowing of
Water Tanks, Apparatus or Pipes and named Natural Perils (flood,
earthquake, volcanic eruption, hurricane, typhoon, windstorm,
hailstorm, thunderstorm, tornado, tsunami and tidal waves).
Further, policy could be extended
to cover Riot, Strikes and Civil Commotion, Terrorism and
Malicious Damage (social perils).
Standard Exclusions
- Loss by theft during and after the occurrence of a fire.
- Loss or damage to property occasioned by its own fermentation,
natural heating or spontaneous combustion or
undergoing any heating or drying process.
- Burning of property by any public authority.
- Subterranean fire.
- Loss or damage caused by nuclear weapons, ionising radiation
or contamination by radioactivity.
- Earthquake, volcanic eruption or other convulsions of
nature.
- Typhoon, hurricane, tornado, cyclone, storm, tempest or
other atmospheric disturbances.
- War and allied risks including riot, civil commotion and
terrorism.
- Bush fire, patnas, clearing of land by fire.
- Explosion other than explosion of gas or boiler used for
domestic purposes.
The insured has the option of obtaining the
Policy on either INDEMNITY basis or REINSTATEMENT basis
(the latter will not apply to stock, in a commercial situation).
Further details could be obtained from the insurer.
Following basic information would require
providing a premium quotation: Name of the Proposor, Risk
Address, Description and Value of the Property to be Insured
and Perils required. Insurer may call for additional information
if necessary.
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