Standard Fire and Special Perils Policy

A fire policy (Standard Fire and Special Perils Policy) insures the individual from monetary loss that a sudden accidental fire can bring. The Oriental Insurance Company Ltd Fire Floater Insurance Policy.

All immovable and movable property located at a particular premises such as buildings, plant and machinery, furniture, fixtures, fittings and other contents, stocks and stock in process along with goods held in trust or in commission including stocks at suppliers/ customer’s premises, machinery temporarily removed from the premises for repairs can be insured.

• Accidental fires
• Lightning
• Explosion & implosion ‘due’ to pressure vessels (used for domestic purposes)
• By rioting mob, striking workers and malicious acts by third parties
• Impact / Damage by rail/road vehicles, carts & animals
• By aircraft or any arial devices or articles dropped therefrom
• Landslide & rockslide.
• Storm, cyclone, flood & inundation and similar vagaries of nature
• Bursting and over flowing of water tanks and pipes etc.
• Missile Testing operations
• Leakage from sprinklers
• Bush Fire

•  Terrorism Damage
•  Architects, Surveyors and Consulting Engineer’s Fees (in excess of 3% of claim amount)
• Debris Removal (in excess of 1% of claim amount)
• Forest Fire
• Impact / Damage due to Insured’s own Rail/Road Vehicles and by aircraft or any arial devices and articles dropped therefrom
• Earthquake risks (Fire and Shock)

All property located in an industrial complex will be charged one rate depending on the product(s) made.

Facilities outside industrial complexes will be rated depending on the nature of occupancy at individual location.

Storage areas will be rated based on the hazardous nature of goods held.

Additional premium is charged to include “Add on” covers

Discount in premium is given based on past claims history and fire protection facilities provided at the premises.

One can also opt out riot, strike, malicious and terrorism damage covers and flood group and perils for reduction in premium.

• Destruction/damage by own fermentation natural heating or spontaneous combustion
• Undergoing any heating or drying process
• Burning of Property insured by order of any public authority
• Explosion/implosion damage to boilers, damage caused by centrifugal forces
• Forest Fire
• War and Nuclear group of perils
• Unspecified precious stones, cheques, currency etc.
• Electrical files
• Consequential losses
• Theft during/after operation of peril
• Mis-description, Mis-representation, Non-disclosure of material facts
• Expenses relating to claim documentation
• Fraud

Insurance company may at its option, also repair or replace the affected property instead of paying for the cost of restoration.

If the individual value of assets is not furnished, the value of each property is considered as not more than 5 percent of the total sum insured.

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