Standard Fire Insurance Policy

Description of Fire Insurance Business:

Fire Insurance: All policies issued under the heading of Fire Insurance. It primarily aims at providing protection against financial losses arising out of the operation of fire or certain other specified perils. The subject matter of insurance is usually:

  • Building
  • Plant & Machinery
  • Furniture, Fixture and fittings
  • Goods and Merchandise
  • Stocks of all kinds


Direct risks covered under standard fire insurance policy:

Accidental fire, lightning & Explosion (Boilers or gas used for domestic purposes only). The perils covered by the policy in its normal terms are:

  • Fire: Whether resulting from explosion or otherwise.
  • Lightning: Whether fire results or not.
  • Explosion: Boiler used or gas used for domestic purpose only.


In addition to the above, this Policy also generally covers the following forms of damage :-

1.Damage during or immediately following a fire caused by

  • Smoke
  • Scorching
  • Falling walls and the like


2.Damage caused by a fire brigade or other competent authority in discharge of their duty including :

  • Damage caused by water or other extinguishing agents employed.
  • Damage caused by the blowing up of buildings to prevent the spread of a configuratio


3.Damage to property while being removed from a building or immediately after its removal from burning building caused by exposure to weather, provided the removal was justified.

Additional risks covered on payment of additional premium:


  • Riot and strike damage (RSD)
  • Explosion damage (including commercial purpose)
  • Malicious damage.
  • Earthquake
  • Cyclone
  • Flood.


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