In general, a Fire Insurance for business policy as a standard, covers the structure of the building (not including pilings) and the contents.
These have to be included in the policy such as furniture, stock, decorations, tools electrical equipment, machinery, etc, of the building against damages/loss from the following perils:
- Fire – But not including damage from any explosion from the fire – unless its explosion from gas used in a residential dwelling. Also, does not include any damages from fire caused by Earthquake (direct/indirect).
- Lightning – Any damages caused by lightning strike to the property
- Explosion by gas – Only for residential dwelling. But not covered if the explosion is caused by an Earthquake
- Damage from any additional Peril that is clearly mentioned in the Policy – extra protection that can be bought from the Insurance companies for protection against specific perils.
Some of the additional cover that can be bought from the Insurance companies include damage/loss caused by:
- Disaster from Aircraft/Vehicles
- Water hazards
- Strike hazards
- Vandalism/Malicious Intent
- Disaster against Electrical equipment
- Burglary with signs of Forced Entry
The General fire Insurance is most suited for businesses such as Shops, theatres, warehouse, factories etc.