Fixed Asset Insurance offers policies that provide insurance for all physical assets of a company, such as plants, machinery, equipment, commodities and fixtures against natural disasters and accidents. Besides material damage, Loss of profit that may arise in the event of an interruption of business operations may also be covered as a supplementary coverage as well as some other perils including but not limited to fire liability, theft, glass breakage and personal accident.
Insurance for loss of profit due to fire provides assurance against any loss of profit that may arise due to the realization of risks covered by the relevant fire policy until the end of an interruption or delay in business operations, to be limited to the maximum indemnity period as specified by the policy.
Additional coverage that may be provided under a fire insurance policy are mainly as follows:
- Loss of Profit Due to Fire
- Glass Breakage
- Theft Insurance
The main coverage of fire insurance policies and the standard risks covered additionally are as below;
- Earthquake and Volcanic Eruption
- Internal Water
- Malicious civil commotions, disorder, strikes, lock-outs, terrorism
- Snow Weight
- Collision by marine, air and road vehicles with the insured property
- Debris-removal costs
- Rent loss and deprivation from usufruct
- Fire and explosion liability
- All loss that may occur due to any environmental pollution directly or indirectly arising from the realization of the risks covered under the insurance policy.
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