Features & Benefits
Requirements: You might have protected your business with insurance against fire. But how about securing your business against the immediate consequences of fire and allied perils? A tragedy like fire could damage or destroy much of your property. As bad as that is, the effects are much worse. It could disrupt or stop the regular work and business. This could result in your profits taking a hit or a loss of business turnover. Here a Consequential Loss (Fire) Insurance policy is exactly what you need.
Benefits: The Consequential Loss (Fire) Insurance policy will take care of your business while it is recovering from the effects of a fire. You don’t have to stress your finances anymore in such a delicate situation. As an extension of your material damage policy insuring against fire and allied natural, this policy will ensure not only are you protected against the physical damage of a fire but also the business losses the fire and allied perils leads to.
Sum Insured: This is an indemnity policy where sum insured depends on the indemnity period and the gross profit of your business.
Premium: The amount of the premium you pay is based on certain risk factors. The main risk factors in this case would be the type of occupation, location, past loss experience, deductibles and coverage. Other factors like the number of production lines, number of shifts, type of production process, etc. can also influence the base rate.
Please read the
policy wordings for more information.
*Terms & Conditions apply.