Standard Fire and Special Perils Policy cover all properties on land (excluding land cost), moveable or immoveable, Stock, Building, Furniture & Fittings, Plant & Machinery and Items covered specifically on declaration etc. The perils include Fire, Lightning, Explosion / Implosion, Aircraft damage, Riot, Strike, Natural Disasters, Impact by vehicles/ animals, Bursting/ Overflowing of Water tanks, Apparatus etc, Missile testing, Bush fire and Pollution or contamination resulting from listed perils. Such plans are usually offered on an annual basis. The premium package is based on the peril inclusions decided at the time of policy inception.

Who shall take the policy?

Any person / firm / organisation / institution who shall suffer financial loss in the event of operation of insurable perils shall insure such property under the fire policy. They shall be broadly categorised as under:

Owners of Building and contents such as household articles, furniture etc

Shop Keepers

Educational/Research Institutions

Hotels, Boarding and Lodgings, Hospitals, Clinics, or such service providers

Industrial and Manufacturing Firms

Godown Owners

Bailees, Lessor, Lessee, Banks, Financial Institutions, Mortgagors, Mortgagees

Traders in stock

Trustees, Charitable Institutions

Transporters and C & F Agents

Add-on covers

In addition to the perils/ expenses covered, the proposer shall opt to seek cover in respect of the following perils/ expenses at inception or during currency of the policy on payment of additional premium:


Loss/ damage/ destruction of the property caused by

Forest Fire

Spontaneous Combustion

Omission to insure additions, alterations, or extensions

Earthquake (Fire and Shock)

Spoilage material damage cover

Leakage and contamination cover

Temporary removal of stocks


Deterioration of Stocks in Cold Storage premises due to power failure following damage due to an insured peril

Impact Damage due to Insured's own Vehicles, Forklifts and the like and articles dropped therefrom