Property Insurance

Types of perils covered under a Property All Risks insurance policy:

1. Fire
2. Explosion
3. Lightning
4. Fire
5. Natural Disasters (Floods, Earthquakes, Storms, Cyclones)
6. Burglary following violent forcible entry or exit
7. Bursting of water pipes and apparatus
8. Malicious Damage, Riots and Strikes
9. Aircraft or articles dropped therefrom
10. Accidental Damage or Impact Damage

What types of property can be covered under a Property All Risks insurance policy:

1. All types of buildings (Residential, Commercial, Schools, Hospitals, factories, Warehouses etc)
2. Office contents and equipment
3. Stocks
4. Plant and Machinery
5. Furniture, Fixtures and Leasehold Improvements

Additionally, the following items can be insured in connection to the property owned or rented:

1. Loss of Rent (as income or as rent payable)
2. Loss of Gross Profit (Business Interruption cover)
3. Third Party Liability, Liability towards Landlord or Tenants

Typical exclusions in a Property All Risks Insurance policy:

1. Political Risks (War, Terrorism, Sabotage)
2. Nuclear Risks
3. Property in the course of manufacturing or property being worked upon
4. Wilful destruction of property
5. Machinery Breakdown or Derangement
6. Mysterious Disappearance
7. Loss or damage to Money, Cheques, evidence of debt and securities of all kind