Fire Insurance to Protect Your Business

Best fire insurance policy to protect your businesses against unforeseen losses, destruction or damages.

Mitigate risks and protect your business.

Why buy fire insurance for your businesses?

Prevent financial setbacks

Protect your dream

Every business, big or small, is a dream for many founders. Fire insurance protects these businesses from potential damage outlined in the policy.

Win the Trust of Investors

Repair, restore or replace

Once your business is insured with fire insurance, damages to your property are covered. This includes repair, restoration, or replacement costs.

Keep your personal finances safe

Wide range of coverage

Fire insurance covers a range of assets, including buildings, machinery, furniture, stock, and both movable and immovable items.

Attract the best people

A variety of perils covered

A fire insurance policy covers damage not just from fire, but also from lightning, aircraft, and impact incidents.

Reassurance for Big choices

Navigate regulatory compliance

D&O insurance

Why buy fire insurance from Pazcare?

Tailored Protection

Get multiple quotes

Pazcare offers multiple quotes from multiple insurers. So, as a customer, you can choose the best quote with better prices and coverage.

Expert Guidance

Single point of contact

Once you buy fire insurance from Pazcare, a dedicated account manager is assigned to you. So, you need not wait to get your questions answered.

Competitive Pricing

Timely reminders

Your fire insurance policy is valid for one year. At Pazcare, we provide you with timely reminders regarding the payment of premiums.

Innovative and Agile

24X7 claim settlement

Pazcare offers 24X7 claim assistance to raise or process your fire insurance claim.

What are the perils covered by your fire insurance?

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Fire

If the business property or building is damaged due to lightning, this damage/loss is covered by your fire insurance policy.

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Lightning

If the business property or building is damaged due to lightning, this damage/loss is covered by your fire insurance policy.

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Explosion/ Implosion

If any explosion/implosion happens to the property excluding the boilers or apparatus which can explode or implode due to their operation is covered.

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Aircraft damage

Destruction, damage or loss caused by aircraft, aerial or space devices to the business property is covered excluding damages caused by pressure waves.

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Bush fire

Overly grown bushes or trees may require removal. Setting fire to them may cause damage to the property, hence this is covered in your policy.

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Impact damage

Loss, damage or destruction to the business property due to striking of rail, road vehicle or animal by direct contact will be covered.

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Storm, Cyclone, Tempest, Hurricane, Flood and Inundation

Natural calamities like storms, cyclones, typhoons, tornados and hurricanes can cause loss/damage to property and are covered by fire insurance.

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Subsidence and Landslide including Rock slide

Destruction, loss or damage caused by the subsidence, landslide or rockslide on part of the site on which the property stands is covered.

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Bursting or overflowing of Water tanks, and Pipes

Accidents like overflowing and bursting of pipes and water tanks can cause loss or damage to the property, so the policy covers these damages.

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Missile testing operations

Any kind of missile testing operation can cause damage, destruction or loss to the business property, so fire insurance covers these damages.

Peace of Mind

Protect yourself from unexpected legal challenges.

Build Trust

Show stakeholders your commitment to excellence.

Stay Prepared

Equip yourself for the future’s uncertainties.

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🤙 Talk to our Business Insurance expert.

02

🤝 Help our experts understand your business challenges and needs

03

🧩 We’ll get back to you with the best recommendations.

04

🙌 You finalize the plan that best suits you.

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🌟 That’s it. You are now secured!

Frequently Asked Questions About Fire Insurance

What is fire insurance

Fire insurance, generally known as the Special Fire and Special Perils is a type of property insurance that provides coverage for material damage. The main objective of fire insurance is to provide cover for your property against any physical losses, damage or destruction. The policy pays you the restoration costs, repair costs or replacement costs of the property or any part of the property.

What are the types of fire insurance?

Types of fire insurance

Fire insurance in India is broadly categorised into three based on the sum insured.

Bharat Sookshma Udyam Suraksha

This fire insurance policy covers the loss, damages or destruction to the business property like stocks, buildings, plant and machinery, fittings and fixtures and other assets of the business for a sum insured up to ₹ 5 crores.

Bharat Laghu Udyam Suraksha

This fire insurance policy covers the loss, damages or destruction to the business property like stocks, buildings, plant and machinery, fittings and fixtures and other assets of the business for a sum insured up to ₹ 5 to 50 crores.

Special Fire and Special Perils Policy

In this type of fire insurance policy, the business property like buildings, plants and fixtures, and other assets are insured against any loss or damage by the perils mentioned in the policy copy. Here the sum insured exceeds ₹ 50 crores.

The Special Fire and Special Perils are broadly categorised into:

Values Policy

In this type of fire insurance policy, firstly the value of the business property is decided. This value is not the current market value but the value the insured and the insurer agreed upon. This applies to those properties where the market value cannot be determined, for instance, old manuscripts, artefacts etc. Hence, this value will decide the sum insured.

Floating Policy

In a floating fire insurance policy, the coverage is offered to business that deals with stocks/goods present at various locations for one sum insured and one premium. This mostly applies to businesses dealing with the import and export of goods.

Comprehensive Policy

A comprehensive policy ensures that coverage is offered to fire-related perils and also offers cover against other perils such as burglary, robbery, etc.

Specific Policy

In a specific fire insurance policy, a sum insured is already decided for your business property. In case of any loss or damage to your property, the cover amount provided will be within the determined sum insured limit.

Replacement Policy

Replacement or reinstatement policy applies to buildings, furniture, machinery and fixtures. The market value of the property is determined and the insured is compensated based on the actual amount required to replace or restore the damaged property.

Consequential loss policy

This type of policy provides compensation for the consequential loss of profits or loss. For instance, a fire outbreak at a manufacturing plant can stop operations and bring down production hence, causing a loss in profits. However, the fixed expenses continue. So, this policy compensates those consequential losses by looking at a loss.

What are general exclusions in fire insurance?

General exclusions in fire insurance

A fire insurance covers damages or loss to the business property by fire or other perils. However, it does not cover certain conditions of these perils.

Some of the general exclusions in fire insurance are:

-Burning of property issued by any public authority is not covered in the policy.

-Repairs, demolitions, construction or alterations to the building or premises are excluded from the coverage.

-Fire caused due to natural heating, spontaneous combustion or its own fermentation by boilers or other apparatus is not covered.

-Any defects in the construction unknown to the insured are excluded.

- Normal cracking, settlement or bedding down of newly constructed property is not covered under the policy.

- Loss, damage or destruction caused by a forest fire is generally excluded. However, an add-on cover can provide coverage.