Fire is a devastating situation that can cause substantial damage and loss to property. These incidents are not only financially challenging but also affect physical and emotional well-being. For these reasons, people prefer to buy fire insurance plans.
When it comes to the best home insurance for fire coverage, TATA AIG offers standard fire and special perils that cover losses due to fire and allied perils. Here, we will learn in detail about the same.
TATA AIG’s Standard Fire and Special Perils Policy
TATA AIG’s Standard Fire and Special Perils Policy is a robust insurance solution designed to safeguard your valuable assets against losses and damages caused by fire and other specified perils.
This comprehensive coverage protects a wide range of items, including buildings, plant and machinery, stock and furniture, ensuring you have financial security in the face of unexpected events.
By choosing this policy, you can rest assured that your investments are well-protected. Whether it is a sudden fire or other named perils, TATA AIG provides peace of mind, allowing you to focus on your business or personal goals without the worry of potential losses.
Perils Covered Under Standard Fire and Special Perils Policy
Here is the list of perils that are covered under the TATA AIG Standard Fire and Special Perils Policy:
Fire
One of the main perils covered under the policy is fire. The plan covers any damage or loss to the property or insured goods caused by fire. However, the fire should have been accidental, not willful or an act of negligence.
Aircraft Damage
Another peril covered under the policy is damage or loss to insured property caused by aircraft or other aerial devices.
Explosion or Implosion
The policy covers damage to insured property from fire which is caused by either implosion or explosion under the insured premises.
Lightning
Another crucial peril covered under the TATA AIG Standard Fire and Special Perils Policy is damages and losses caused by lightning strikes.
Riot, Strike, Malicious Damages
Under this fire insurance cover, any kind of damage and losses caused to the insured property due to violent activities like riots, strikes, etc., are covered.
Natural Calamities
The Standard Fire and Special Perils Policy also protects against various natural calamities like storms, hurricanes, typhoons, tornados, hurricanes and more. However, it does not offer coverage against earthquake and volcanic eruption damage.
Subsidence, Landslide and Rockslide
Under this plan, any damage or loss caused by landslides or rockslides is covered under the policy. However, it does not cover the normal cracking and bedding down of new structures.
Missile Testing operations
Any damages and losses to insured property or goods caused by missile testing operations are covered under the Standard Fire and Special Perils Policy.
Leakage from Automatic Sprinkler Installations
Any losses or damages due to the installation of automatic sprinkler systems are also covered under this plan.
Impact Damage
Under this plan, any loss or damage to property caused by the impact of a vehicle, animal, road or rail that comes in direct contact with the insured property is covered.
BushFire
Another peril covered under this plan is damage and loss to property due to bushfires. However, this plan does not offer coverage against forest fires.
Bursting or Overflowing of Water Tanks
Under this fire insurance coverage, any damage caused by the overflowing or bursting of pipes, water apparatus or tanks is covered.
Conclusion
The potential damages or losses caused by fire can be devastating for individuals, businesses and entities. That is why investing in fire insurance cover is essential for safeguarding your assets against unforeseen incidents.
TATA AIG’s Standard Fire and Special Perils Policy is specifically designed to provide robust protection against a range of fire-related losses and damages.
This policy not only covers your building and machinery but also protects your valuable stock and furniture, ensuring you are financially secure in the event of a fire. With TATA AIG, you can have confidence that your investments are protected.
