Fire & Allied Perils Insurance

Fire & Allied Perils coverage is sometimes known as Specified Peril Insurance. These policies cover losses for a named peril specifically stated in the policy. For example, a Standard Fire Policy will cover the two specifically named perils of fire and lightning. Other perils can be added by endorsements, such as Burglary and vandalism, or malicious mischief. Additional coverage for Earthquakes might be considered, or obtaining Flood Insurance may be needed if the risk of flood is high. Named peril policies to specify the perils, causes of damage or loss, and states the policy limits. These policies generally offer the lowest premium and the fewest risks of loss will be covered.

What is covered:

This policy is generally obtained to cover the insured asset such as Building, Furniture, Fixtures, Fittings and Office Equipment, AC units systems, etc.

• Fire & Lightening

• Riot & Strike

• Malicious Damage

• Explosion

• Impact Damage

• Cyclone/ Storm/ Tempest

• Flood

• Earthquake & shock

• Aircraft Damage

• Natural Perils such as Tsunami

• Hurricane

• Typhoon

• Tidal Waves etc

• Bursting & Overflowing of water tanks

• Spontaneous combustion

• Electrical Extra

• Burglary due to forcible entry or exit from/to premises