Below is a list of companies with the best fire& perils insurance cover in Kenya:

Jubilee Insurance

Fire and Allied Perils

This policy is meant to indemnify the insured against the loss of or damage to your property arising from fire as well as from allied perils such as earthquakes, explosions, riots and strikes, malicious damage, special perils.

Why take the Fire and Allied Perils Cover?

• Covers any other damage not directly caused by accidental fires, but from related causes
• Covers damage to your property, ensuring that losses to your business can be recovered

Key Benefits

Covers aircraft and impact damage

Covers asset damage by explosion or implosion

Covers damage caused by fire and lightning

Covers subsidence and landslide including rockslide

Covers storm, cyclone, typhoon, tempest, hurricane, tornado, flood and inundation (STFI)

Covers riot, strike and malicious damage (RSMD)

APA Insurance

Fire & Perils Cover

This policy will indemnify the insured against the loss of or damage to the property insured arising from fire as well as from allied perils such as earthquake, explosion, riot and strike, malicious damage, Special perils A-H (such as Hail, Snow, Wind, Hurricane, Cyclone, Tornado or Typhoon, Rain, Flood, Overflowing of guttering and downpipes, Bursting or overflowing of water tanks, apparatus or pipes, Aircraft or articles dropped there from, Impact by any road vehicles, horses or cattle, Subterranean Fire).

Loss, destruction, or damage to the property described in the schedule or any part thereof directly by any of the undermentioned perils: —

FIRE, LIGHTNING, EXPLOSION but excluding loss or damage to boilers, economizer or other vessels, machinery or apparatus in which pressure is used, or their contents resulting from their explosion.

EARTHQUAKE

STORM AND TEMPEST, FLOOD, BURSTING OR OVERFLOWING OF WATER TANKS, APPARATUS OR PIPES ( excluding the first Kshs. 500/- of each claim).

AIRCRAFT AND OTHER AERIAL DEVICES AND/OR ARTICLES DROPPED THEREFROM.

IMPACT with any of the said buildings insured under this Policy and/or any walls, gates, and fences around and pertaining thereto by any road vehicles, horses, or cattle not belonging to or under the control of the Insured, his agent, or servant thereto by any road vehicles, horses or cattle not belonging to or under the control of the Insured, his agent or servant.

RIOT AND STRIKE

This extension, which for this insurance shall mean: –

1. 1. The Act of any person taking part together with others in any disturbances of the public peace (whether in connection with a strike or lock-out or not) not being directly or indirectly connected with any of the following occurrences, namely: –
   1. i. War, invasion, an act of a foreign enemy, hostilities or warlike operations (whether war be declared or not), civil war,
   2. ii. Mutiny, civil commotion assuming the proportions of or amounting to a popular rising, military rising, insurrection, rebellion, revolution, military or usurped power, or any act of any person acting on behalf of or in connection with any organization with activities directed towards the overthrow by force of government de jure or de facto to the influencing of it by terrorism or violence.

GA Insurance

Fire Insurance

What is Required For Fire Insurance Cover Quote:

• Your occupation
• Values of your property
• Type of construction of the building
• Location of your property

Who Needs Fire Insurance Cover in Kenya?

• Restaurants
• Pharmaceuticals
• Shopping Malls
• Manufacturing Industries

 

 

Covers

• Buildings
• Furniture and office Equipment and machinery
• Stock in trade

First Assurance

OVERVIEW

Fire and allied perils insurance covers buildings and contents against; fire, explosion, lightning, earthquake, riot, strike, malicious damage, storm, flood, burst pipe, impact by aircraft, road vehicles and related perils.

FEATURES

Meaning of Fire in Insurance

Fire is the actual ignition of something that should not be on fire, the cause being accidental or fortuitous. There are three conditions which must be fulfilled to constitute fire in the insurance sense. These are:

There must be actual ignition.

There must be something on fire that ought not to be on fire.

The fire must be accidental or fortuitous in its origin in as far as the insured is concerned.

 

Fire insurance business can be broadly taken as:

Fire Insurance Business- Domestic Risks

This is fire insurance of risks which are of private or personal use that is, other than commercial or industrial use.

Fire Insurance Business—Industrial and Commercial Risks

This means fire insurance of commercial or industrial risks which are not domestic risks.

What can be covered:

Buildings

Contents (Plant & machinery, furniture fixtures & fittings, office equipment)

Stock in trade

BENEFITS

The damage to the insureds’ property caused by the following perils is covered:

Fire

Lightening

Earthquake

Explosion

Riot and strike/malicious damage.

Special perils A to H which, snow, wind, hurricane, cyclone, tornado or typhoon, flood or rain, impact, aircraft or articles falling, subterranean fire.

Fire Domestic Cover

The Fire Domestic package covers your house and its contents against fire and other specified perils. It also safeguards your possessions in the event of a break-in.

What’s in it for you?

We will cover the following:

• Damage to buildings
• Loss of or damage to the insured contents
• WIBA for domestic workers – 24 hour cover for accidental and work-related injuries
• Public liability or liability to third parties for accidental injuries resulting from negligence by the insured while at their residence
• Cover for loss or deterioration of stock e.g. (food in the fridge) resulting from accidental damage to the refrigerator.

How do I apply?

Below is a step by step process on how to apply for the cover:

Step 1: Fill in a proposal form

Step 2: Provide a schedule of items to be covered

Step 3: Get a quotation

Step 4: KRA Pin and certificate of incorporation

Step 5: Make premium payments

Equity Bank

Fire and Perils

The Fire and Perils insurance policy covers the insurer’s property against fire, lightning, bush fire, explosion, earth quake (fire, shock and volcanic eruption), riot, strike, malicious damage and special perils as per policy.

Note: Get optional extras at an additional premium, including political violence & terrorism and loss of income.

How To get started with this product

1. Click the button below to sign up.
2. Fill in your details.
3. Submit the details. A representative from our team will give you a call.

Get started

• Features

These are the Features of the Fire and Perils Insurance Coverr
1.	Risks	Free Risk Surveys and Risk Improvement
2.	Agreements	Recommendations, Agreed Value claim settlements
3.	Accidents	Fire Brigade, Debris removal, No excess

Britam

Fire And Burglary

Any individual who wants to cover his / her home or business can take this cover. It is a simple and affordable cover option, and its fixed benefit options with premiums quoted upfront provides flexibility to choose as per your needs or requirements. The Optional Business Interruption benefit also gives freedom to choose as per requirements and needs.

Base Benefit pay-out

• For fire & other perils, the claim payout is the lower of the actual damage OR benefit limit, subject to the excess limit mentioned below*.
• For burglary, the claim payout is the lower of the actual damage OR benefit limit subject to the Excess limit mentioned below*.

*Applicable Excess limit: 10% of the claim amount subject to a minimum of: KES 1,000 for Option 1 || KES 5,000 for Option 2, Option 3, Option 4 and Option 5 

• For a personal accident or in case of accidental death or permanent total disability, a fixed amount as per the cover option chosen will be paid.

Optional Benefit pay-out

• For Business interruption due to Fire & other Perils, the lump sum pay-out as per the cover option chosen will be paid
• For Business interruption due to Hospitalisation, in case of hospitalisation for a minimum of 5 consecutive nights or more, the lump sum pay-out as per the cover option chosen will be paid

Exclusions

• Excluded businesses are banks; forex bureau; jewellery shops; premises where manufacturing is carried out; beer / tobacco dealers and distributors; open air markets
• If any claim under this policy shall be in any respect fraudulent or if any fraudulent means or devices are used by the Insured or anyone acting on his behalf to obtain any benefit under this Policy, all benefit hereunder shall be forfeited
• Loss or damage which is covered by any other policy that the client already has that covers the insured events
• Loss following confiscation by local authorities or damage by order of legally constituted authority
• Loss or damage to property occasioned by its own fermentation, natural heating or spontaneous combustion or by its undergoing any heating or drying process
• Loss of cash, currency, bank notes or securities of any kind
• Rent receivable / payable for the insured building
• Goods held in trust or on commission
• Illegal trade

ICEA Lion

What Are The Key Features of ICEA LION Fire & Perils Insurance?

Our Fire & Perils Insurance is divided into various sections (categories) to enable you to insure only what may be relevant to you. For instance, you may not need to insure the structure of the house if you are a tenant. You will perhaps only need to insure your contents and perhaps your movable valuable items.

Section A: Buildings

This refers to insurance cover for the residential buildings where you are either the owner or owner/ occupant of the residence. These include:

Loss or damage to a residential building including:

• Loss or damage to a residential building including fixtures and fittings, walls, gates, terraces, patios,drives, paths, carports, garages and outbuildings,caused by various destructive elements (perils) referenced above.
• The reasonable additional expense linked to seeking alternative accommodation in the event your residence is rendered uninhabitable by any of the destructive elements listed above.
• Compensation for the loss of rent payable to you as long as this does not exceed 10% of the Sum Insured.

It is important to note that the amount to be paid out to you under ii and iii above should not exceed 10% of the Total Sum Insured unless you insured your property for an additional specific amount for these 2 eventualities as an extension to your policy.

Section B: Contents

This refers to insurance cover for the contents of your residence whether you are a tenant or owner of the residence. Contents usually refers to household goods, personal effects, such as valuables, furniture, electronics, fixtures and fittings (including interior decorations) all belong to you or members of your household.

The contents to be covered also include those contained within your domestic employees’ quarters, other outbuildings within your residence or in your garage. You would however need to specify this at the time you take up your home insurance policy.

Section C: All Risks

This refers to insurance cover that protects your property (not covered under Section A and B above) against loss of damage to portable valuables caused by an accident or misfortune. This is however subject to the policy exclusions.

The items referred to in this section are portable valuables such as specified jewellery, watches, gold and silver items, special photography & videography equipment for private use, unspecified luggage, clothing and personal effects. It is important to note that there is a limit of Kes 5,000 for the items for which you do not provide specifics. For instance, if you make a claim for sunglasses that you bought at a high price, but you did not indicate their value in your breakdown of insurable items and pay the commensurate premium, then you will only be refunded a maximum of Kes 5,000.

It is important to note that loss or damage to portable items caused by wear and tear, depreciation, insects,rust, electrical or mechanical breakdown, confiscation by authorities or theft by a member of your household does not qualify for compensation.

Section D: Domestic Employees (Referred to as Workmen’s Compensation)

This insures you in the unfortunate event you are held liable for death, injury or disease to your domestic employees arising out of and in the course of their employment with you. This applies to domestic employees such as househelps, security guards, chefs/cooks, gardeners and drivers. A WIBA cover is mandatory for all employers as per the Work Injury Benefit Act (WIBA).

We offer compensation as outlined below:
• Death of your domestic employee – 96 months’ earnings.
• Medical expenses – Kes 100,000 per employee per claim.
• Funeral expenses – Kes 30,000 per deceased employee.
• Temporary and permanent disability as per WIBA 2007 set limits.
It is important to note that you will be required to meet the first Kes 5,000 for every claim except for funeral expenses.Section E: Employers Liability
This covers you for any legal liability raised by your domestic services employees arising out of their death,bodily injury or disease in the course of employment.
We will compensate you for the claimant’s costs as per the below set limits:
• Any one person – Kes 4,000,000
• Any one occurrence – Kes 25,000,000
• Any one year – Kes 50,000,000
It is important to note that you Kes 25,000 will be deducted for each and every claim. In the unfortunate event your demise, your personal representatives in this regard, will be covered by us subject to the terms, conditions and exceptions of your policy. The terms of this section are guided by the prevailing WIBA
provisions.
Section F: Owners’ Liability
This section covers you as the homeowner against legal liability to third parties. A third party in this case is any person other than a member of your household or anyone working for you at the time of the occurrence.
Our insurance covers you in the event you are sued by a third party for either a death, illness or accidental bodily injury arising out of the incident. You are also protected in the event of accidental loss of or damage to property not belonging to you.
In the unfortunate event of your demise, this section will continue to cover your personal representatives such as your spouse or other members of your family in
case you are sued by a third party.
Section G: Occupier’s & Personal Liability
This section covers you as the resident against legal liability to third parties arising out of the fact that it occurred at your residence or out of your (or your household members’) personal actions during that occurrence at your residence. A third party in this case is any person other than a member of your household or anyone working for you at the time of the occurrence.
Our insurance covers you in the event you are sued by a third party for either a death, illness or accidental bodily injury arising out of the incident. You are also protected in the event of accidental loss of or damage to property not belonging to you. In the unfortunate event of your demise, this section will continue to cover your personal representatives such as your spouse or other members of your family in case you are sued by a third party.

Mayfair Insurance

Fire and Allied Perils

This provides cover for loss or damage to property, caused by fire or lightning.It is necessary to understand the exact meaning of the word ‘fire’ as used in insurance parlance. A ‘fire’ as covered under a Fire Policy, is said to have occurred when the following conditions are satisfied:

• There is actual ignition of property.
• There must be something on fire which ought not to have been on fire.
• The fire must have occurred under accidental circumstances, so far as the insured is concerned.

Once a ‘fire’ as meant by the policy has occurred, certain other types of losses automatically come within the scope of the Fire Policy:

• Damage during or immediately following a fire caused by smoke, scorching, falling walls.
• Damage caused by the fire brigades in the discharge of their duties.
• Damage to property incurred by exposure to weather caused as a result of removal of property from a burning building in an effort to mitigate the loss.

Exclusions in Fire Policies

The standard Fire Insurance Policy does not cover:

• Loss or damage to property occasioned by its own fermentation, natural heating or spontaneous combustion or by its undergoing any heating or drying process.
• Loss by theft during or after the occurrence of a fire.
• Loss or damage occasioned by or through or in consequence of:
  • The burning of property by order of any public authority
  • Subterranean Fire
  • Loss or damage to any electrical machinery, apparatus, fixtures and fittings (includes electrical fans, electrical household or domestic appliances, etc) or to any of the electrical installations, arising from or occasioned by over running, excessive pressure, short-circuiting, self-heating, arching, or leakage of electricity from whatever cause (lightening included).
  • Unless or otherwise expressly stated in the policy loss or damage to:
  • Goods held in trust or on commission
  • Bullion or unset precious stones
  • Manuscript, plans, drawings or designs, patterns, models or moulds.
  • Securities, obligations, or documents of any kind, stamps, coined or paper money, cheques books of account or other business books.
  • Explosives.:
    • Any loss or damage occasioned by or through or in consequence of the explosion, except loss or damage by explosion of gas used for illuminating or domestic purposes in a building in which gas is not generated and does not form part of any gas works, will be deemed to be loss by fire within the meaning of the policy.
    • Any loss or damage occasioned by or through or in consequence of the burning, whether accidental or otherwise, of forests, bush, prairie, pampas or jungle, and the clearing of land by fire.
    • Building insured becoming unoccupied and remaining so for a period of more than 30 days.

Extensions to Fire Policy

Some of the above exclusions can be covered by payment of additional premium. These are:

• Riot And Strike
• Explosion

Subject to special conditions given in the company’s endorsements fire & allied perils cover can be extended to include loss of or damage to the property insured by fire or otherwise directly caused by explosion, but excluding loss and damage to boilers, economizers, or other vessels, machinery or apparatus in which pressure is used or their contents resulting from their explosion.

• Special Perils:

Subject to the special conditions contained in the company’s endorsements, loss or damage due to the following causes can also be obtained: hail, snow, wind, hurricane, cyclone, tornado, typhoon, rain, flood, overflowing of gutters, bursting of water tanks, subterranean fire.

• Spontaneous Combustion

Damage or destruction by fire only to the insureds interest caused by its own spontaneous fermentation, heating or combustion can be given as an extension to the policy.

• Bush Fire

The policy can be extended to cover the loss or damage to the property occasioned by or through or in consequence of the burning of forests, bush, prairies, pampas or jungle and the clearing of lands by fire (except where such clearing is done by or on behalf of the insured).

• Earthquake fire and shock

Takaful Insurance

Fire & Perils Takaful Cover

What Cover do I have?

The Fire & Perils Takaful Policy provides indemnity against material loss to the property caused by:

  Fire

    Lightning – this is covered whether a fire occurs or not.

    Explosion – this includes explosion of boilers and gas used for domestic purposes only.

    Explosion other than the one mentioned above

    Earthquake

    Riots, strikes and locked out workers

    Malicious damage

    Storm, tempest, flood

    Escape of water from any tank, apparatus or pipes

    Impact by any road vehicles or animals

    Aircraft and other aerial devices

    Bush fire

    Spontaneous fermentation or heating

    Subterranean fire

•   Subsidence, ground heave and landslip

The policy also generally covers the following forms of damage:

  Damage during or immediately following fire caused by Smoke, Scorching and Falling walls

    Damage caused by fire brigade or other competent authority in the discharge of their duty including

    Damage caused by water or other extinguishing agents employed

    Your policy cover will normally run for 12 months and is renewable annually.

•   Damage caused by blowing up of buildings to prevent the spread of conflagration

How much must I pay if I have a claim?

You should report to us immediately. We will ask you for the following:

  Completed claim form

    Police abstract report

    Evidence of value in form purchase receipts and replacement receipts for items beyond repair

    In case of loss of stock provide also stock records, purchase invoices, delivery notes, sale receipts, annual accounts and bank statements for the last six months.

    In case of loss of stock provide also stock records, purchase invoices, delivery notes, sale receipts, annual accounts and bank statements for the last six months.

•   Police abstract report

Can I cancel the policy ?

You should report to us immediately.

You may cancel the policy at any time by telling us in writing via email to talktous@takafulafrica.co.ke. We may cancel the policy by giving you seven days’ written notice to your last known address. We will charge you on a pro rata basis for the time we have been on cover plus an administration fee of Ksh.1,000 and pay any refund due to you. There will be no refund if we have paid a claim or one is outstanding at the time you cancel your policy.

Liberty Insurance

Fire and Theft

5 reasons your business needs Fire Consequential Loss Insurance:

Our Fire Consequential Loss insurance goes beyond traditional fire coverage, safeguarding your business’ financial health after a disaster strikes. This policy acts as your financial shield, ensuring your business emerges stronger.

• Beyond the Flames: Covers not just fire, but lightning, natural disasters, riots, and other disruptions, ensuring broader protection.
• Profit Guardian: Safeguards your income stream, covering lost gross profits even when operations are stopped, keeping your business afloat.
• Employee Peace of Mind: Guarantees wages and salaries are paid on time, even during recovery, maintaining employee morale and stability.
• Unexpected Expenses Covered: Handles increased operational costs like temporary relocation or equipment repair, minimizing financial burdens or alternative cost of working
• Smoother Recovery: Enables seamless business continuity by minimizing financial impact and aiding faster, less stressful post-disaster bounce-back and covers claim preparation costs

What are the benefits you gain?

• Comprehensive Coverage: Protects against a wide range of disruptions, maximizing your security.
• Profit Preservation: Ensures your income stream continues even after a loss.
• Employee Security: Guarantees employees receive their salaries on time preventing loss of skilled staff
• Operational Buffer: Covers increased costs incurred during recovery.
• Seamless Business Continuity: Minimizes financial impact and aids faster recovery.

What is covered?

The policy covers losses incurred due to business interruption following the occurrence of :

• Fire
• Lightning
• Standard Explosion / Implosion
• Malicious Damage
• Riot and Strikes
• Impact Damage
• Bush Fire
• Earthquake
• Storm, Cyclone, Typhoon, Tempest, Hurricane, Tornado, Flood and Inundation
• Bursting and/or over owing of Water Tanks, Apparatus and Pipes

What is not covered?

This policy does not admit any claim unless there’s a corresponding material damage claim under a fire policy

What’s required to issue the cover?

• Completed proposal form
• Copy of insured ID (for individuals) or Certificate of Incorporation (for corporates)
• Copy of PIN certificate

Kenindia Insurance

Fire Insurance

This is insurance for occurring fire cases, which provides protection against loss in the event of a fire.

KenIndia Assurance Company Limited offers various Insurance products in the market. These products may be classified into four categories as given below:

1. FIRE DOMESTIC INSURANCE
2. FIRE INDUSTRIAL (MATERIAL DAMAGE) INSURANCE
3. FIRE BUSINESS INTERRUPTION ( LOSS OF PROFITS)
4. INDUSTRIAL ALL RISKS

 

Under each class of Insurance, the basis of the contract are proposal forms, premiums are the basis for consideration of indemnity and upfront payment of full premiums is mandatory before commencement of cover. Under Fire Insurance, there are four categories of products offered.

Fire Domestic Insurance

 

This is offered to a residential and or private dwelling house or private flats including domestic outbuildings, landlord’s fixtures and fittings, walls, gates and fences under the same property. The insured will be indemnified against damage to the property as per values specified in proposal form if caused by the following:

• Fire, lightning, thunderbolt, earthquake or volcanic eruption.
• Explosion.
• Riot and strike.
• Aircraft or other aerial devices.
• Bursting or overflowing of water tank apparatus.
• Theft accompanied by actual forcible and violent breaking into the building.
• Impact to the building by any road vehicle or animal not belonging to the insured.
• Storm and tempest.
• Additional expenses incurred for alternative accommodation and loss of rent.

NOTE: The Insurance therein may be extended to include contents under section B. This may include furniture, fixtures, household goods and personal effects of every description the property of the insured or member of his family residing with him if covered under the policy.

Fire Domestic Insurance

This is offered to a residential and or private dwelling house or private flats including domestic outbuildings, landlord’s fixtures and fittings, walls, gates and fences under the same property. The insured will be indemnified against damage to the property as per values specified in proposal form if caused by the following:

• Fire, lightning, thunderbolt, earthquake or volcanic eruption.
• Explosion.
• Riot and strike.
• Aircraft or other aerial devices.
• Bursting or overflowing of water tank apparatus.
• Theft accompanied by actual forcible and violent breaking into the building.
• Impact to the building by any road vehicle or animal not belonging to the insured.
• Storm and tempest.
• Additional expenses incurred for alternative accommodation and loss of rent.

NOTE: The Insurance therein may be extended to include contents under section B. This may include furniture, fixtures, household goods and personal effects of every description the property of the insured or member of his family residing with him if covered under the policy.

Fire Industrial (Material Damage) Insurance

This is a basic Fire policy. It covers the capital assets of the insured. This may include:

• Buildings.
• Stock in trade.
• Furniture, fixtures and fittings.
• Office equipment.
  The cover is given against perils such as fire, lightening, limited explosion, aircraft and other aerial devices, strike, riot and locked up workers, malicious damage, earthquake or volcanic eruption, storm, tempest and floods, escape of water from any tank, apparatus or pipes, impact by any road vehicle or animal, bush fire, subterranean fire and spontaneous combustion.

Fire Business Interruption (Loss Of Profits)

The cover (consequential loss) protects the insured from future earning capacity. It covers loss of profits due to reduction or complete stoppage of production following sudden and unforeseen damage including breakdown to plant or machinery. In the event of loss, what is at risk is the sales referred to as Turnover or sometimes Revenue. It seeks to make good the lost income (profit element) arising out of damage at the insured’s premises or elsewhere (e.g premises of the suppliers or customers) or by paying the additional expenditure arising from increase in cost of working to assist the insured to maintain his own income.

The perils, conditions, and warranties in Fire material damage policy must be the same as those in the Fire business interruption policy. For a claim under business interruption to be admissible, the fire material damage claim has first to be admissible.

Industrial All Risks

This is a comprehensive Fire Policy which includes Fire material damage and business interruption. This is normally given after taking into consideration the volume of business and the huge sum insured. This may cover:

SECTION A – MATERIAL DAMAGE

• Buildings.
• Plant and machinery spares.
• Office equipment, fixtures, furniture’s and fittings.
• Other contents.
• Stock in trade.
• Customer’s property.

SECTION B – BUSINESS INTERRUPTION

• Gross profit.
• Increased cost of working.
• Auditors Fees.

 

NOTE: With an indemnity period ranging between 6 months to 18 months, the policy may be extended to cover theft subject to terms, condition and warranties as specified in the policy.

CIC Insurance

Why Fire Industrial

This policy covers the risks of fire, lightning and explosion as a result of bursting of gas cylinders. The policy can be enhanced to cover additional perils such as earthquake, malicious damage, floods, riots and strike, bush fire and similar perils.

Kenya Orient Insurance

The fire & Perils Policy covers material damage loss only.  A consequential loss policy however covers loss of revenue when such investment is rendered temporarily unproductive owing to damage by an insured peril.

Fire consequential loss must be taken up together with a Fire (material damage) policy.

Every consequential loss policy must contain a PROVISION that at the time of the happening of the damage there shall be in force an insurance covering the interest of the premises against such damage and that the payment shall have been made or liability admitted thereof under such insurance.

The insured must prove insurable interest in the property for the consequential loss to be placed.

WHAT IS THE BASIC COVER?:-

Loss of Gross Profit following reduction in turnover

Increased Cost of Working (additional expenses incurred to prevent further reduction in turnover

Wages and Salaries on Payroll Basis

Auditor’s Fees

INDEMNITY PERIOD

This is the period beginning with the occurrence of the damage and ending not later than maximum (24 months) thereafter during which the results of the business shall be affected in consequence of the damage.  It is not permissible to alter the Indemnity Period during the currency of the policy.

ADDITIONAL EXTENSION COVERS

The Consequential Loss Cover may also be extended to cover Add-On Perils insured by Fire Material Damage Policy at additional premium which must be shown separately on the policy.

WHAT SHOULD NOT BE COVERED

Depreciation of Stock

Bad Debts

REQUIREMENTS

Duly completed proposal form

insured’s ID and PIN

Business survey where necessary

Proof of a Fire Material Damage for the said property in place

CLAIM PROCESS

Report incident/loss within 21 days of Fire Material Damage Claim happening

Provide all necessary claim documents (police abstract, claim form, books of records of stock and receipts for purchases of these stock in trade

AIG Insurance

There are good reasons to consider Fire and Perils Insurance from AIG

The basic Fire policy provides indemnity against loss or damage to property described, caused by fire, lightning and explosion. However, the policy can also be extended to cover riots, strike, malicious damage, storm, earthquake, impact by vehicles, aircraft and other aerial devices, subterranean fire, spontaneous combustion, explosion of industrial boilers and economizers, flooding, water damage due to bursting or overflowing of water tanks, apparatus, and pipes among others.  This insurance covers assets such as buildings, plant and machinery, stock insurance, furniture fixtures and fittings and office equipment.