Fire Insurance

This contract covers the material loss caused by fire, lighting and can include natural risks of explosion, riot, strikes hurricanes, floods and burst of water pipes .volcanoes, electricity short circuit, impact by car and other risks as required by the insured .

Types of fire insurance policies:

1.    Standard fire policy of limited sum insured and fixed sum insured during the insurance period.

2.    Open cover policy: covers stock and cutters for quantity changes and their value.

3.    The floating policy: covers different items in different places with one sum insured.

4.    Valued Policy: The compensation value / amount is determined before the insurance policy commences for rare items.

5.    First layer insurance policy.

6.    Replacement –value insurance policy.

Procedures for Fire insurance

1.    Insurance application form.

2.    Technical survey of the subject matter of insurance by the Loss Control Department.

3.    Issuing the insurance policy.