FIRE INSURANCE

 In fire insurance, all 12 perils are already covered like a riot,  fire, inundation, stampede, flood, lightning, etc.

While purchasing the fire policy we have to give the following details:-

1. Nature of business

2. Total Annual Turnover

3. Premises Details (including plinth and foundation)

4. Sum Assured requirement

5. Riders required

6. Electrical and Electronics utensils.

7. Plant and machinery.

8. Stocks

9. Fixtures.

10. Furniture etc

All the above information is needed to capture our actual insurance required.

Here we have to see which type of riders are needed by us.

1. If we have cash transactions in business then,

a. Money in Safe

b.Money in Transit

c. Money in Drawer

All the above riders are for cash transactions, we have to choose as per our requirement. Here at the time of inception of the policy or before issuance of policy we have to give a limit is Rs. per transit or money, we keep in a safe or drawer.

2  Burglary if our business requires.

3. Earth Quake

4. Deterioration of goods in Cold storage.

5. Forest and Bush Fire.

6.  Loss of Rent.

7. Terrorism

8. Startup expenses.

There are other riders are also available which we can opt for as per our need.        

                                                                                                                                               Continued...

Location: India

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