It takes a lifetime to build business assets. In a competitive business environment, damage to your property or goods can hurt your profit margins. You therefore need the Standard Fire and Allied Perils Policy to be sure that you are protected against losses that could devastate your business.
What is Standard Fire and Allied Perils Policy?
Standard Fire and Special Perils Insurance is a traditional cover that offers cover against fire and allied perils which are named in the policy. The policy can cover building, plant and machinery, stocks, furniture, fixtures and fittings and other contents (which are not specifically insured).
Key Features of Standard Fire and Allied Perils Policy
- Fire
- Lightning
- Aircraft damage
- Riot, strike, and malicious damag
- Storms, tempest flood
- Impact by any vehicle or animal
- Bursting and or overflowing of water tanks, apparatus, and pipes
- Leakage from automatic sprinkler installations
What other covers can be added on?
The below list is an indication of covers that can be added on, but it is not exhaustive,
- Deterioration of stock in cold storage
- Removal of debris
- Architects, Surveyors and Consulting Engineers Fees
What is not covered by Fire and Allied Perils Policy?
- Political riot or terrorism and looting
- Pollution and contamination
- Excess (if specified in the policy)
- Business interruption
- Consequential loss
- Volcanic eruption or other convulsions of nature
- Theft during or after the occurrence of any insured peril