307 - B Sai Complex, Above Hotel Giriraj Kathyawadi, GIDC Char Rasta Vapi. 396195.
Standard Fire and Special Perils Policy
Traditional coverage against fire and other hazards specified in the policy is provided by Standard Fire and Special Perils Policy. The insurance may include coverage for the building (including the plinth and foundation), equipment, supplies, stocks, furnishings, fixtures, and other things.
Benefits of a Standard Fire and Special Perils Policy
Complete Protection
Provides a broad spectrum of insurance protection for your office, workplace, and warehouse assets. Asset physical damage coverage, business interruption-related loss of earnings, and third-party legal liability coverage are all offered.
Numerous Locations Covered
Multiple sites across the nation might have their contents covered by a single factory & warehouse insurance policy. A fire insurance floater policy can accommodate for differences in sum guaranteed across sites.
Customized Cover
The policy will be altered to meet your needs. Our specialists will be in service to you as they do a complete risk analysis and provide factory insurance products that are appropriate for your company’s requirements.
Easy to Document
Factory insurance may be issued with a minimum amount of documentation. The Fixed Asset Register kept for your bookkeeping might be submitted. Only portable equipment requires unit-wise serial numbers.
FAQ
General Question
? What is the claim filing process for claim resolution?
You must notify the insurer as soon as a claim occurs. The accident scene would be surveyed by a surveyor who was appointed to the job. A claim form, invoices, and other paperwork needed by the insurance company to handle the claim must then be submitted.
? How are fire claims resolved?
There are two ways to resolve claims in the event that a fire damages or destroys the factory. If there is damage that can be fixed, the expense of fixing the item to bring it back to its pre-damage state is reimbursed.
The insurance provider will cover the entire item's worth in the event of total damage or loss. Depending on which is lower, the market value or the whole cost of the shares would be reimbursed in the event of stock loss.
? What paperwork is necessary for claims?
The following papers are often needed when submitting a claim:
1. Completed claim form
2. First Information report(FIR)
3. Final Investigation Report
4. Invoice for the ruined assest
5. Forensic report, when appropriate
6. Fire department report (in case of fire)
7. Determine the expense of product replacement or repair.
8. Depending on the kind of claim, the insurer may also want various more papers in addition to these.
? What distinguishes the reinstatement value from the market value?
In accordance with reinstatement value policies, losses are compensated in accordance with the current cost of restoring the asset to its condition just before the loss. Depreciation is subtracted under market value policies according to the duration of the asset's use.
? Can I get reimbursed for any income or profit lost because of a fire or a machine failure?
Yes. You should get a policy named "fire loss of profit"(flop) to cover loss of profit caused by a fire and any associated dangers . Similar to this, you can file a claim for lost income under the Machine Loss of Profit (MLOP) insurance if there is a loss of revenue as a result of mechanical failure of the equipment.
Talk To Our Insurance Experts
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