Get Complete Fire and Burglary Coverage with Tata AIG Insurance

Fire and Burglary insurance packages from Tata AIG offer comprehensive coverage for businesses and individuals, safeguarding against losses due to fire and theft. The Business Guard Sookshma Package Policy covers properties up to ₹5 Crores, while the Business Guard Laghu Package Policy covers properties between ₹5 Crores and ₹50 Crores. These policies protect against damages from fires, explosions, natural disasters, theft, and more, ensuring financial security and peace of mind. Choose Tata AIG for flexible, reliable coverage and a seamless claims process.

INSURANCETATA AIG INSURANCE

Investbegin

6/23/20245 min read

Tata AIG’s Fire and Burglary insurance
Tata AIG’s Fire and Burglary insurance

Get Complete Fire and Burglary Coverage with Tata AIG Insurance

Fire and Burglary insurance packages are designed to provide coverage for private or individual entities, companies, and businesses to cover any kind of loss resulting from fire and allied perils outside your control. By partnering with Tata AIG, you can access flexible fire and burglary coverage with optional add-ons. We offer two plans under our roster to insure your business:

  1. Business Guard Sookshma Package Policy: Provides coverage for your property up to a sum insured of ₹5 Crores at one location.

  2. Business Guard Laghu Package Policy: Provides coverage for your property for a sum insured exceeding ₹5 Crores up to a maximum limit of ₹50 Crores at one location.

What is Fire Insurance?

Fire insurance is a type of property insurance that individuals or corporate entities can opt for to cover losses or damages caused to insured property. This property can be office buildings, private property like houses, or any other place where you run your business. It is essentially a contract between the insured and the insurance provider, where the provider agrees to cover the financial loss due to a fire outbreak. Key points to note when filing a claim:

  • Actual Fire: The loss or damage must be due to an actual fire.

  • Accidental Fire: No intentional or wilful fire damage will be covered.

Why Is Fire Insurance Important?
  • Protects Against Financial Losses: Unforeseen events like fire and natural disasters can cause massive losses. Without insurance, you will have to bear these expenses out of pocket.

  • Covers Property Damage: Covers repair and replacement costs of movable and immovable property in case of a fire explosion. This includes office buildings, plant and machinery, furniture, fittings, and stock.

  • Coverage for Other Perils: Covers other perils like malicious damage, land subsidence, impact damages, natural disasters, and theft within seven days from the occurrence of an insured event.

Characteristics of Fire Insurance by Tata AIG
  • Extensive List of Inclusions: Covers losses and damages due to multiple reasons like lightning, spontaneous combustion, explosions, etc.

  • In-Built Covers: Includes professional fees for architects, surveyors, and consulting engineers, cost of debris removal, temporary removal of stock, and more.

  • Easy Claim Process: Quick and straightforward claim process with online tracking.

  • Suitable For All Business Sizes: From small stores to shopping malls.

Inclusions Under Fire Insurance in India
  • Fire: Physical damage, loss, or destruction caused by fire.

  • Bush Fire/Forest Fire/Jungle Fire: Damage due to spontaneous fires.

  • Explosion or Implosion: Damage by explosions or implosions.

  • Lightning: Damage and fire outbursts caused by lightning.

  • Landslides/Rockslides: Damage from land subsidence, landslides, and rockslides.

  • Impact Damage: Damage from external physical objects like vehicles, animals, falling trees, etc.

  • Missile Testing Operations: Damage from missile testing operations.

  • Riots, Strikes, and Malicious Damages: Damage from riots, strikes, or malicious activities.

  • Bursting or Overflowing of Water Tanks, Apparatus, and Pipes: Water damage from these sources.

  • Leakage From Automatic Sprinkler Installations: Accidental water discharge damage.

  • Earthquakes and Volcanic Eruptions: Damage from these natural disasters.

  • Storms, Cyclones, Typhoons, Tempests, Hurricanes, Tornados, Tsunamis, Floods, and Inundations: Damage from these weather events.

  • Theft: Within 7 days from the occurrence of an insured event.

Exclusions Under Fire Insurance in India
  • Fire: Caused by heating or drying processes or burning by public authority order.

  • Explosion or Implosion: Involving boilers, economisers, or machinery generating steam.

  • Landslides/Rockslides: Caused by normal cracking, coastal erosion, defective design or materials, demolition, or construction.

  • Impact Damage: From supersonic aircraft or vehicles owned by the insured.

  • Leakage From Automatic Sprinkler Installations: Due to repairs, removal, or construction defects.

  • Riots, Strikes, and Malicious Damages: Due to cessation of work, dispossession by government order, or unlawful occupation.

  • Theft: Not covered if it occurs outside the premises or involves items attached to outer walls or roofs.

Inclusions Under Burglary Insurance in India
  • Loss or Damage to Contents: Caused by burglary or hold-up.

  • Damage to the Premises: During burglary or hold-up.

  • Repair/Replacement of Locks and Keys: For safes and strong rooms.

  • Repair Cost of Underground Cable, Pipes, and Overhead Tanks: Damaged during burglary or hold-up.

  • Loss or Damage to Assets/Equipment: Acquired during the policy period.

  • Theft (Optional): Coverage for theft without violent entry or exit.

Exclusions Under Burglary Insurance in India
  • Jewellery, Personal Effects, Works of Art, Etc.: Unless specifically included in the policy.

  • Documents: Legal or business documents.

  • Fire: Damage by fire.

  • Loss Involvement: By the insured or their employees.

  • Natural Disasters: Damage from natural events like earthquakes or hurricanes.

  • Negligence/Deception: Unexplained loss or losses from voluntary parting with property.

  • Loot, Ransack, Spillage, or Pilferage: Loss from these activities.

  • Thefts Outside Premises: In yards, gardens, or open spaces.

  • Dispossession by Lawful Authorities: Permanent or temporary dispossession.

  • Inoccupation of Premises: If left unattended for 30 or more consecutive days.

  • Alterations to Premises: Increasing risk or relaxing safeguards.

  • Excess or Deductible: The first amount of each claim as stated in the policy.

What is Burglary Insurance?

Burglary insurance protects your business from loss or damage to assets like furniture, fixtures, machinery, and equipment due to burglary or theft. It provides coverage for unforeseen and unauthorized entry with the intent to steal.

Characteristics of Burglary Insurance by Tata AIG
  • Wide Coverage: Loss or damage to contents caused by burglary or hold-up.

  • Safety Measures: Compensates for repair or replacement of damaged locks and keys.

  • Cost of Repairs: Covers repair cost of underground cable, pipes, and overhead tanks.

  • Affordable Premium: Competitive pricing for extensive coverage.

  • Digital Process: Paperless, transparent process from buying to claim filing.

Tips to File Fire and Burglary Insurance Claim
  • Inform the Insurer: Report the incident immediately.

  • Provide Necessary Details: Give a detailed account of the damage with photos and videos.

  • Property Survey: Assist the surveyor to speed up the claim process.

Additional Optional Coverage in Fire Insurance
  • Floater Cover: For stocks at multiple locations.

  • Declaration Policy for Stocks: Covers stock based on declared value.

  • Omission to Insure, Additions, Alterations or Extensions: Coverage for newly acquired property.

  • Escalation Clause: Automatic increase in sum insured.

  • Accidental Damage Cover: For loss or damage by external means.

  • Involuntary Betterment: For replacing damaged property with updated versions.

  • Rent Insurance: Covers additional rent for alternate premises.

  • Protection and Preservation of Property: Costs for temporary protection.

  • Contract Works: Covers permanent and temporary works.

  • New Location Cover: Coverage for newly acquired locations.

  • Brands and Trademarks: Covers damaged branded goods.

  • Electrical Injury: Loss or damage to electrical installations.

  • Terrorism Damage: Covers losses from terrorism or sabotage.

Eligibility Criteria to Buy Fire and Burglary Insurance Policy
  • Individuals: Homeowners, renters.

  • Businesses: Small, medium, and large business owners, including retailers, financial institutions, clinics, and service providers.

  • Organizations: Banks, educational and research institutes, and industrial firms.

Why Choose Tata AIG?
  • Global Presence: Local expertise with global support.

  • Financial Strength: Backed by Tata Group and AIG.

  • Marine Loss Control Engineering (MLCE): Loss prevention and quality improvement programs.

  • Innovative Products: Tailored for various business needs.

  • Flexibility: Customizable policies.

  • Tech Advantage: Online issuance and management of policies.

For more information, visit Tata AIG Fire and Burglary Insurance.

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