Business involves capital investment and protection of that investment in building, machinery, stock and other contents that are important for a healthy and long-term sustenance of your organization.
Property All Risks Insurance provides financial reimbursements following a loss or damage to your owned or rented property. Whether you own a property and are concerned about any damages that can occur or you are a renter and are concerned about damages, a well-designed commercial property all risks insurance, is what you need.
Types of perils or risks covered under a Property All Risks Insurance Policy:
- Natural Disasters (Floods, Earthquakes, Storms, Cyclones)
- Burglary following violent forcible entry or exit
- Bursting of water pipes and apparatus
- Malicious damage, riots and strikes
- Aircraft or articles dropped therefrom
- Accidental Damage or Impact Damage
The various types of policies include:
- Fire & Allied Perils Insurance – This Policy offers basic cover against named perils such as Fire, Lightning, explosion/implosion, Aircraft damage, Impact Damage, Storm. Tempest, Flood, Inundation, Riot, Strike and Civil Commotion etc. This is not an “All Risks” cover and excludes accidental damage arising out of causes other than the named perils.
- Property All Risks Insurance – This policy offers a wide coverage than a Standard Fire Policy and your assets are covered under this policy for accidental, physical loss and/or damage.
- Business Interruption Insurance – This policy covers loss of revenue or gross profit following accidental damage to your property covered under your Property All Risks Insurance Policy. This policy should co-exist with your Property All Risks and cannot be taken on a stand-alone basis. The additional covers offered under this policy include cover for Denial of access, Customers’/Supplier’s Premises, Accountant’s Fees and increased cost of working.
Our property insurance solutions offer peace of mind by providing appropriate coverage with timely claim assistance in the event of an accident. To learn more e-mail us at email@example.com