The Fire Insurance for Residential household policy provides a slightly broader cover by default that the standard fire insurance for business policy.
It provides cover for the structure of the building (not including piling) used for residential purposes (including condominiums) and the items in the residence for dwelling purposes such as furniture, decorations, tools, electrical appliances, home appliances, kitchen appliances, bathroom appliances, hi-fi systems etc for damages/loss against the following perils:
- Fire
- Lightning – including any damages to electronics damaged by short circuit due to the lightning
- Explosion of gas used for residential purposes only
- Transportation Hazard – damages caused by any means of transportation
- Aviation Hazard – damages caused by projectiles falling from the sky
- Water Hazard
As seen this provides a wider cover compared to the general Fire for business policy. And just like the business policy, additional cover can be bought for damages against:
- Storm
- Hail
- Flood
- Earthquake
Check our blog post – Household / Business Interruption Insurance
