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Standard Fire Special Perils Cover Policy

Features & Benefits

  • Requirements

    A lot of time and money goes into procuring the valuables you own and keeping them secure and safe from damage should be your first line of defense against any financial losses and loss of possession. Since accidents like outbreak of a fire, earthquake, flood or a water tank burst are something we can neither predict nor control, it is important that you prepare in advance to at least minimize the effect on any such happening. For that, you have the Standard Fire & Special Perils Insurance policy that protects your needs against any of such unforeseen events.

  • Benefits

    This Standard Fire & Special Perils Insurance policy will covers you against losses or damage incurred to your valuable property and belongings caused by threats like fire, explosion, natural calamities etc. The policy is an ideal cover that ensures your property, including buildings, fixtures, furniture, machinery, trade stocks, tools, etc. is safe from the many accidents that can potentially destroy it.

  • Sum Insured

    The indemnity policy, Standard Fire & Special Perils Insurance by Liberty Videocon General Insurance pays for the actual value of the insured property or properties, immediately before any damage or loss. In case of used assets there would be a deduction for depreciation, unless you have selected the reinstatement insurance value.

  • Premium

    The amount of premium you pay for the policy shall depend on certain risk factors such as the nature of occupancy, types of fire protection appliances installed, location, past loss experience, type of goods, nature of construction, deductibles and the coverage. Additional factors like the age of the asset, and kind of maintenance may also be considered.


This Standard Fire and Special Perils Insurance policy covers your furniture, instruments, machinery, buildings, trade stocks, etc. in the case of 12 specific risks mentioned below: -

If you own a property to be insured or have an interest in such a property as a bank or a financier, this policy is for you.​ To know more about the eligibility, inclusions and exclusions, please read the policy wordings.

The specific risks stated in the policy are -

  • Fire and Bush fire
  • Lightning or Explosion/implosion
  • Bursting and overflowing water tanks
  • Loss, destruction or damage caused by Storm, Typhoon, Cyclone, Tempest, Tornado, Hurricane, Flood or Inundation​ and other storm related calamities.
  • Loss, destruction or damage caused by Land slide/Rock slide or subsidence of part of the site on which the property stands
  • Aircraft damage or Loss and destruction caused by aerial or space devices including articles dropped but excluding those caused by pressure waves
  • Loss or visible physical damage due to external violent means like riots
  • Strike and malicious damage caused by external violent means to the property insured
  • Impact damage by rail or road vehicles or animal by direct contact, provided the sources do not belong to or are owned by the insured or any occupier of the premises while acting in the line of their employment.
  • Missile testing operations
  • Leakage from automatic sprinklers

Paying an additional premium can get you ‘add on covers’ on your policy, which will compensate you in cases like:

  • Earthquake (fire and shock)
  • Deterioration of stocks in cold storage
  • Forest fire
  • Loss of rent
  • Rent for alternate accommodation
  • Impact damage due to your own vehicles
  • Spontaneous combustion
  • Terrorism

This Standard Fire and Special Perils Insurance policy do not cover you against certain risks such as:

  • Loss or damage caused by war
  • Electrical failure
  • Consequential loss of any kind
  • Theft
  • Loss, destruction or damage caused by direct or indirect nuclear and radioactive events on the premises of the insured property
  • Loss or damage caused by pollution or contamination
  • Mechanical breakdown of any electrical machine, fixture, apparatus or fitting arising from over-running, short circuiting, excessive pressure, arcing, self-heating or leakage of power.
  • Loss by spoilage resulting from interruption, retardation or cessation of any process caused by operation of any of the perils covered
  • Loss of earnings, loss of market, loss by delay or other consequential losses or damages of any description
  • Loss, destruction or damage of stocks in Cold Storage within the premises, caused by change of temperature

Why Commercial Insurance

Listen to Our Customers

The Client has highly appreciated the inputs and report from Mr. Sudhanshu.
Its because of him we were able to convince the client to move to Liberty along with local sales support.​

Rohit Kapoor

We find the report is very exhaustive in bringing out the risk exposures and the works the client has to carry out for risk elimination. Surely the client will be benefited by the suggestions you have put forth.​


The contents of your newsletter are quite interesting and informative.

This will help in creating awareness in the industry about the loss prevention and good maintenance.

Thanks for the good work you are doing.​


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Registration Number: 150 | ARN- ADVT/2017/May/22 | CIN: U66000MH2010PLC209656

© 2017 Liberty Videocon General Insurance Co. Ltd.

Reg Office: 10th floor, Tower A, Penisuala Business Park, Ganpat Rao Kadam Marg, Lower Parel, Mumbai - 400013

Trade Logo displayed above belongs to Liberty Mutual and used by the Liberty Videocon General Insurance Company Limited under license. For more details on risk factors, terms & conditions please read sales brochure carefully before concluding a sale.