A Quick Guide To Fire Insurance In India

Every country has its own unique set of laws and codes written on how insurance is supposed to operate.  With regulations on individual and group insurance plans, companies are left to comply with these rules and ensure that the coverage they offer is provided if and when the time comes.

Often separating good businesses from bad ones, knowing the top insurance companies in India is critical if you want the peace of mind that comes with the security of having your possessions covered against the threat of the unknown.

In India, a form of insurance that many people consider for their home is fire insurance.  How is fire insurance approached in relation to home insurance?

Let’s take a moment to go through this quick guide to fire insurance in India so that you have a better idea of what your options are.

Fire Insurance In India

In India, fire insurance businesses are regulated by Tariff known as the All India Fire Tariff.  The Tariff is specifically responsible for laying out the rules and regulations regarding fire insurance and the coverage of fire related damages to homes and properties.  This includes the conditions of the fire policy, rates, and coverage.  Also known as the Standard Fire and Special Perils Policy, it provides the following coverage.

It protects offices, hospitals, shops, and dwellings.  In addition, it also protects against industrial manufacturing risks that may develop including accessories and machinery.  Tanks and farm/gas holders for a myriad of uses is also covered, as well as outside the primary dwelling storage facilities, like say a barn.

What Things Does Fire Insurance In India Cover?

Fire insurance in India covers a general fire (not caused by you), lightening, explosions, implosions, damage from aircraft, damage from rioting, terrorism, fires caused by storms and severe weather, fires from impact damage and things like landslides, bush fires, and missile firing operations gone wrong.

You should be aware that there are specific things that the insurance for fire in India does not cover.  If you need one of these things covered ,then you should be looking for a specialty insurance provider.  The list of things not included in insurance are fire damages caused by overrunning machines, damage caused by items in cold storage that warm up, fire damage caused by nuclear activity, and damage caused by civil war, kindred perils, or war in general.

Finding The Right Insurance And Claims

If you are interested in having homeowners insurance that protects against fires, then a policy will be necessary.  With the range of coverage offered, the majority of issues faced by homeowners are covered.  If and when something happens, you are instructed to contact your Indian fire insurance provider and make them aware of the situation.  They will send a person to the scene to see what the cause of the fire is and determine whether or not there is coverage able to be offered as it relates to the policy you have.

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