Fire & Property Insurance!
The business class includes coverage of property against fire, lightning, explosion (due to domestic boiler only), etc. Additionally, it can cover the cost of replacement, reconstruction or repair. Policies cover damage to the building itself, and might also cover damage to nearby structures, personal property and expenses associated with not being able to live in or use the property if it is damaged depending upon the policy document and insurance premium.
Fire Insurance policy provides compensation to the insured person or firm in the event of damage to the property insured (i.e. buildings, Stocks, Machinery and Other contents) caused by fire, lightning.
The additional covers that can be provided depending upon the insurance premium include
Riot and Strikes
Malicious Damage
Explosion
Aircraft Damage
Loss of Rent
Earthquake, Fire and Shock
Impact Damage
Burglary and Housebreaking
Electrical Clause B
Removal of Debris
Atmospheric Disturbance (Flood, Inundation, etc.)
The following are the main exclusions which are not covered
Theft/Burglary House Breaking
Wilful Act
Gross Negligence
Loss to Bullion, Documents, Currency etc.
Loss of Earnings / Business Interruption
Losses arising out or War and War like situations
Terrorism, Civil Commotion, Popular / Military Rising, Insurrection etc.
Nuclear Fission / Biological
Spontaneous Combustion
Loss or Damage to the property insured by order of Public Authority
Misrepresentation
Other property products available include
Property All Risks
Comprehensive Machinery Insurance
Consequential Loss due to Fire/Business Interruption
Terrorism
Hotel Owner’s All Risks Insurance
Home Insurance