Fire Insurance is governed by All India Fire Tariff effective from 31.3.2001 issued by Tariff Advisory Committee, a Statutory Body. It is a commercial policy covering building, offices, machinery, contents and personal belongings of the office. It mitigates the risk of loss of customers arising from fire breakout. The insured should take all possible steps to minimize the loss.
Calculation of Fire Insurance Amount/Premium:
The market value of the property is considered while insuring the sum. The amount of premium depends on a number of factors and individual policies of different insurers.
Fire Insurance Claim Procedure:
Individuals/corporates must inform insurer as early as possible , in no case later than 24 hours.
Provide relevant information to the surveyor/claim representative appointed by the insurer.
The surveyor then analyzes the extent/ value of loss or damage.
The claim process takes anywhere between one to three weeks.
Documents Required for Fire Insurance Claim:
True copy of the policy along with schedule.
Report of fire brigade.
Claim Form
Photographs
Past claims experience
List of Some of Insurance Companies Offering Fire Insurance:
* Terms and conditions may vary in different insurance companies
View Comments
By BALAJI (on Dec 19, 2011 02:53 PM)
Want to know about fire insurance
By KRISHNAN NAIR (on Dec 08, 2011 11:43 AM)
We are looking for adequate Fire Insurance cover for our offices located in India. (i.e.@ Mumbai & Noida). I would like to know the details of documents required and the premium rates from different insurance companies located in Mumbai. Matter most urgent.
Krishnan
