Standard Fire & Special Perils Insurance

Property insurance generally covers losses due to fire, lightning, explosion, implosion, riots, strikes, malicious acts, storms, floods and earthquakes. Additional coverage for other perils can often be added as needed.

Yes, loss of rent can be covered as an add-on. If the insured property becomes uninhabitable due to a covered peril, the policy may compensate for lost rental income, providing financial stability during property restoration.

Yes, stocks and inventory stored within insured premises are typically covered against fire-related damages. Additional coverage can be opted to protect against theft or spoilage due to perils like floods or storms.

Property insurance can cover various types of properties, including residential homes, commercial buildings, industrial facilities, and rental properties. Each type of property may have specific coverage options tailored to its unique risks.

Yes, property insurance typically covers natural disasters such as earthquakes, floods, and storms. However, coverage for certain natural disasters may need to be added as an addition to the standard policy.

In case of a loss, notify the insurer immediately and provide details of the damage. Submit supporting documents like incident reports and any other required document. A surveyor will assess the loss, and once approved, the claim will be settled as per policy terms.

The time to settle a claim can vary depending on the complexity of the claim and the documentation provided. Generally, it can take anywhere from a few weeks to several months.

If your claim is denied, review the denial letter to understand the reasons. You can appeal the decision by providing additional evidence or documentation to support your claim.

Yes, many property insurance policies include coverage for additional living expenses if the insured property becomes uninhabitable due to a covered peril, This can cover temporary accommodation costs.

A deductible is the amount you are responsible for paying out of pocket before the insurance coverage kicks in. It is usually specified in the policy and can affect the premium amount.

Property insurance policies are typically renewed annually. It's important to review your coverage and make any necessary adjustments at each renewal.

You can’t switch insurers at the time of renewal, but you can opt for a different insurance policy with a new insurer if you feel it’s necessary.

If you miss the renewal date, your coverage may lapse, leaving your property uninsured. Some insurers offer a grace period, but it's best to renew on time to avoid any gaps in coverage.

Yes, you can make changes to your policy at renewal. This includes adjusting coverage limits, adding or removing coverage, and updating any information about the insured property.

Premiums can change at renewal based on various factors, including changes in coverage, claims history, and any updates to the insured property. It's important to review the renewal terms carefully.