Fire and Burglary Insurance Policy

Fire accidents can strike unexpectedly creating havoc on the business with damage to the property structure and personal assets. With a robust fire insurance policy, the business owners would have a safety net to prevent heavy financial losses with adequate coverage. In the event of a fire accident, there could be severe damage caused to property structure, property contents which includes valuables, inventory, equipment, cash deposit, etc. The fire insurance coverage ensures the recovery expenses for property and assets alongside business continuity are taken care of. Fire insurance is vital for businesses, especially SMEs, hotels, factories and manufacturing units, shops and retail stores and commercial buildings in the event of any unfortunate fire accident.

• Comprehensive coverage: With Covrzy’s comprehensive fire insurance policy, damages from fire and other hazards like hail, explosion, windstorm, lightning, circuit and wiring issues are included in the standard fire insurance policy.

• Tailored policies: As every business has unique requirements and dynamic risk potential, Covrzy’s fire insurance policy caters to the specific business needs and curates a tailored policy that aligns with nature of the business, the type and location of property, desired coverage according to the property contents and structure, value of the property and risk potential at an affordable premium price that meets your budget.

• Expert guidance: With Covrzy’s fire insurance policy, you will not just have the required financial security against unexpected fire accidents, but also expert guidance at every step from customizing the policy, to initiating the claims and documentation and final settlement to simplify your insurance experience and streamline the claims process.

• Add-on covers: Along with the standard fire insurance policy, Covrzy offers several add-ons for enhanced safety which extends to machinery breakdown, theft and burglary, business interruption, and personal health cover for employees at an additional premium.

• Damage caused to property structure: Fire insurance coverage includes damage caused directly by fire, explosion, and missile testing operations that damage property. Further, the fire insurance covers any loss or damage from an aircraft or its parts falling onto the insured property, and damage by movement of earth or rock across a slope.

• Contents coverage: Alongside the structure of the property, the fire insurance also safeguards property belongings, business inventory, equipment or machinery, personal assets like electronic gadgets, cash, documents, jewellery, etc.

• Liability protection: Fire insurance provides liability coverage that offers protection to the policyholder in the event of a fire accident spreading from the insured property to neighbouring properties.

• Add-on cover for additional expenses : In the event the fire accident has damaged the property and made it unfit for further business till recovered, the fire insurance coverage provides required compensation for temporary accommodation.

• Willful Misconduct: Losses caused intentionally by the insured are not included in the fire insurance coverage.

• Missing Property: The fire insurance policy does not provide any cover when personal assets or property contents disappear without evidence of fire accident.

• Temperature Change in Cold Storage: The stock spoilage due to temperature fluctuations in cold storage is excluded in fire insurance unless the temperature change is a result of fire accident.

• Prior & Pending Claims: An existing or ongoing claim related to fire damage before inception of the policy is not included in fire insurance.

• War, invasion, or civil unrest: Damage from war, invasion, or civil unrest is typically excluded.

In the event of a fire accident, the insured can initiate the claims process for fire insurance by updating the insurer and police authorities. Further, the insured should aggregate evidence iterating the damage caused to the property structure and personal assets through photographs, videos and list of property contents. Then, the insured can fill the claims form, submit the required documents. The insurer will assess the claim and damage caused by fire accident by appointing a surveyor and estimate the final settlement amount to compensate for the damage caused to the personal assets and property structure.

With a customer-centric approach, Covrzy works to simplify business insurance and curate customized policies that align with the unique requirements of your business. Covrzy offers a streamlined claims process and guides you at every step from tailoring the policy coverage as per business requirements, initiating the claims process, documentation process, and receiving the policy benefits.

Covrzy’s Fire Insurance policy provides with:

• Comprehensive coverage with flexible options.

• Affordable policy premium with a competitive market price aligning with budget.

• Expert guidance at every step of the claims process

• Fast settlement of claims to support quick recovery of damages or loss.

Fire insurance is vital for businesses, especially SMEs, hotels, factories and manufacturing units, shops and retail stores and commercial buildings in the event of any unfortunate fire accident. The fire insurance coverage acts as a financial shield and supports businesses with a compensatory amount to recover the damages caused to the property, inventory and equipment and other property contents such as jewellery, cash, electronic gadgets, documents, artefacts, etc. varying according to policy and insurer.