Fire & Property Insurance
Your business depends on its physical assets. Protect them against the unexpected.
Fire & Property Insurance protects your business premises, plant and machinery, furniture, equipment, stock and other physical assets against loss or damage caused by insured events.
Fire & Property Insurance protects your business premises, plant and machinery, furniture, equipment, stock and other physical assets against loss or damage caused by insured events.
We work with leading insurers
across General, Health and Life Insurance
What can Fire & Property Insurance cover?
Depending on the policy selected, cover can include:
Building
Business premises owned by the organisation can be insured against covered physical loss or damage.
Plant & Machinery
Machinery, production equipment and other installed assets can be covered.
Furniture, Fixtures & Office Equipment
Furniture, computers, office equipment and other contents can be insured.
Stock & Inventory
Raw materials, work-in-progress and finished goods can be covered depending on the nature of the business.
Fire & Explosion
Loss or damage caused by covered fire and explosion events.
Storm, Cyclone & Flood
Protection against specified natural perils can be included in accordance with the policy wording.
Earthquake
Earthquake-related loss or damage can be covered where included in the policy.
Other Insured Perils
A property policy can cover several additional perils depending on the type of policy and coverage selected.
What type of Property Insurance does your business need?
The appropriate policy depends on the size and nature of your business.
Different businesses may require different forms of property protection, including:
Bharat Sookshma Udyam Suraksha
Designed for eligible micro and small business property risks.
Bharat Laghu Udyam Suraksha
Designed for eligible business property risks within the prescribed value criteria.
Standard Fire & Special Perils / Other Applicable Property Covers
Property protection may be structured under the appropriate insurer product depending on the risk and applicable product framework.
Industrial All Risks / Comprehensive Property Programmes
Larger industrial and manufacturing risks may require broader property programmes designed around their specific exposures.
You don't need to determine the policy type yourself. Tell us about your business and assets and we can help identify the appropriate cover.
What assets should you consider insuring?
Businesses should consider the full value of physical assets that could be affected by a major loss, including:
- Buildings
- Plant and machinery
- Furniture and fixtures
- Computers and electronic equipment
- Stock and inventory
- Raw materials
- Work-in-progress
- Finished goods
- Electrical installations
- Other business contents
Correctly declaring asset values is important to avoid inadequate insurance.
Don't protect only the property — protect your income too
A major fire or other insured event can stop business operations for weeks or even months.
Repairing the building and machinery is only one part of the financial loss.
Your business may continue to incur:
- Salaries
- Rent
- Interest
- Fixed operating expenses
- Other continuing costs
while simultaneously losing revenue.
Business Interruption / Loss of Profit Insurance can be structured alongside property insurance to protect against specified financial losses resulting from interruption following an insured property damage event.
Our corporate insurance team can help you assess whether this protection should form part of your property insurance programme.
Why choose Fire & Property Insurance?
Protect valuable business assets
Buildings, machinery, stock and equipment can represent a substantial investment.
Recover after a major loss
Insurance can provide financial support to repair or replace insured property following a covered event.
Protect business continuity
Property insurance combined with appropriate Business Interruption cover can help a business recover from both physical damage and the resulting interruption.
Meet lender and contractual requirements
Banks, financial institutions, landlords and business partners may require specified property insurance to be maintained.
How much should you insure your property for?
The sum insured should reflect the appropriate value of the property being insured.
Depending on the asset, this may involve considering:
- Building reconstruction value
- Replacement value of plant and machinery
- Furniture and equipment values
- Stock values
- Seasonal fluctuations in inventory
- Multiple locations
- Additional costs of reinstatement
Insuring only the book value of an asset may not always provide adequate protection.
Our corporate insurance team can help you understand the information required to arrive at an appropriate sum insured.
Already have a Fire & Property Insurance policy?
We can review your existing policy and help you understand:
- Assets and locations insured
- Adequacy of sums insured
- Basis of valuation
- Property covered
- Perils covered
- Deductibles
- Major exclusions
- Add-on covers
- Stock declarations
- Business Interruption cover
- Adequacy of the indemnity period
- Claims experience
- Premium and insurer options at renewal
Share your existing policy with us and our corporate insurance team can review it.
Frequently Asked Questions
Depending on the policy, buildings, plant and machinery, furniture, equipment, stock and other business contents can be insured.
Protect more than your property. Protect your ability to recover.
Our corporate insurance team can help you understand your property exposures and structure appropriate protection for your buildings, assets, stock and business continuity.
Coverage is subject to the terms, conditions, limits, deductibles and exclusions of the policy issued by the insurer.