Property Insurance

Fire & Allied Perils Insurance (FAP)

This form of insurance designed to cover insured properties whilst at specified locations and is essential for all types of properties whether personal or commercial.

All fixed properties, which are broadly categorized as follows whilst at specified locations, can be covered under the above Policy:
  • Buildings
  • Plant & Machinery, Equipments & Accessories
  • Stock in trade
  • Other Contents such as Furniture, Fixtures, Fittings, Office Equipments
This insurance policy basically covers Fire and Lightning, However, it is not customary to be extended to include a host of Allied Perils such as:
  1. Storm, Tempest and Flood
  2. Earthquakes
  3. Bursting of Water Tanks, Apparatus or Pipes
  4. Aircraft Damage
  5. Impact Damage
  6. Explosion
  7. Strikes, Riots and Civil Commotion (SRCC)
  8. Malicious Damage following (SRCC)
  9. Burglary by forcible entry

Property All Risks Insurance (PAR)

PAR policy provides you with a broader coverage than (FAP). This insurance policy covers accidental loss or damage to your insured property. The scope of cover is limited by a set of exclusions. Some of the important exclusions are:

  • Electrical, mechanical breakdown
  • Deterioration of property due to change in temperature or humidity or inadequate air-conditioning, cooling or heating system.
  • Subsidence, ground heave, land slip, erosion, settling or crack-ins.
  • Damage to equipment during installation or dismantling operations.
  • Property in course of construction or erection.
  • Property in course of manufacture.
  • Money, cheques, securities of all kinds etc.
  • Contamination, pollution, wear and tear, corrosion.
  • Loss resulting from dishonesty, fraudulent action, infidelity.

The cover can be extended to include loss of income following an interruption of business activity due to damage to property by a peril not specifically excluded under the policy.
PAR cover is suitable for large, commercial and industrial risks.

House Owners Insurance (HO)

HO policy insures your residential building and its contents. This insurance covers the loss of property due to:
  • Fire, Lightning, Explosion , Earthquake
  • Theft
  • Impact by vehicles, animals.
  • Escape of water or bursting of any tank, apparatus or pipes
  • Storm, Tempest, Flood
  • Breakage of receiving aerials, their fixtures and masts
  • Riot, Strikes &/or Malicious Damage
  • Breakage of fixed glass & sanitary fixtures
It can also be extended to cover the following:
  • Accidents to domestic staff
  • Property owner’s liability and / or tenant’s liability
  • Liability to the public (Third Party)
  • Loss of rent or alternative accommodation
  • This insurance policy can be taken for contents only in case you are a tenant in a building or an apartment.