Fire and Peril Insurance
The basic fire and perils insurance covers loss or damage to property caused by fire, lighting
or explosion.
The cover can also be extended to cover riots, strike, malicious damage, storm,
earthquake, impact by vehicles, aircraft or other aerial devices, subterranean fire, spontaneous
combustion or overflowing water from tanks and pipes.
This insurance covers assets such as buildings, plant and machinery, stock insurance, office equipment, furniture, fixtures and fittings.
The insurer guarantees to pay for the loss or damage to the property for the specified period (usually one year).
The valuation of property is made
according to the market value
Fire and Peril Insurance