Fire and Special Perils Insurance
Fire and Special Perils Insurance: The standard fire policy provides protection in respect of loss or damage due to fire or lightening and explosion of domestic gas appliances. The basic cover can even be extended, for additional premiums, to include the following additional perils:
a) Bush fire Explosion (of non-domestic gas appliances but including steam pressure vessels)
- c) Storm, flood and tempest
- d) Burst pipes or tanks
- e) Hurricane, tornado, windstorm and cyclone
- f) Riot, strike and malicious damage (including damage by political activists)
Please note that the insurers may charge an additional premium for certain perils according to the exposure of the particular risk. However, the insurers may give discounts on rates subject to the availability of satisfactory fire fighting equipment .
We anticipate that you will require cover in respect of assets which include the following:
Buildings and out-buildings inclusive of fixtures and fittings attached and belonging thereto inclusive of boundary walls, gates and fences;
ii) All office contents including but not limited to furniture, fixtures, fittings,
equipment and computers (hard/soft wares).
iii) Plant, machinery, tools, utensils in trade, air-conditioning equipment and all
other contents which is the property of the insured or held by you in trust or on commission.
We strongly recommend that cover in respect of items (i),(ii), and (iii) above be effected on a reinstatement value basis. This means that in the event of loss or damage, insurers’ liability would be adjusted on the basis of replacing or reinstating the property.
No deduction would be made for depreciation. This simply put, means replacing old for new. When establishing the replacement value, you must take into account the problem of rapidly increasing inflation. Hence, items of imported machinery should also include shipping costs, customs duties, handling and erection charges.
