In India, fire-related incidents are distressingly frequent, stemming from a range of causes, including electrical faults and natural calamities. These calamities can inflict severe harm on both individuals and businesses, resulting in substantial financial setbacks and property destruction.
Fire insurance emerges as a critical safeguard in these situations, serving as a vital financial lifeline against the devastating aftermath of fire accidents. Beyond merely offsetting immediate financial losses, it also ensures adherence to safety standards within sectors mandated to possess fire insurance.
Hence, opting for fire insurance showcases the preparedness and forward-thinking of individuals and businesses, enhancing their readiness to confront the unexpected challenges posed by fire hazards.
For a value covered above ₹50 Crores, this policy covers loss or damage to buildings, plant and machinery, stock, and other assets.
Up to ₹5 crores in insured amount, this policy covers loss or damage to stocks, property, equipment and machinery, buildings, and other assets.
For a sum covered between ₹5 Crores and ₹50 Crores, this policy covers damage or destruction to buildings, plant and machinery, stocks, and other assets.