Description
Fire & Special Perils
A fire insurance policy in its standard form covers only three (3) types of risk resulting from:
a) Fire (whether resulting from explosion or otherwise)
b) Lighting
c) Explosion of boilers or gas used for domestic
purposes for lighting or heating the building as long as the building does not form part of a gas work.
Who Requires a Fire Policy?
This may be required by individuals and corporate organizations who may want this cover for their buildings or the contents in their buildings.
However, for you to take up this type of cover, the proposer must have insurable interest in the subject matter of insurance either as an owner or a tenant who will suffer a loss if such a building or its content is damaged due to fire or other risks that are covered by fire policy.
Special Perils
On the payment of an additional premium, the following perils are coverable under the fire policy: Storm, Flood, Burst, Pipes and overflowing of water tankers, impact by vehicles, malicious damage, Earthquake damage, Aircraft damage, Bush Fire, Explosion, Tornado and Cyclone, Riot and Strike.
