Fire & Lightning
Fire policies are issued to interested parties to cover loss or damage due to Fire and associated perils. The basic cover, as per the Company’s Policy provides cover against Fire, Lightning and Explosion of domestic boiler used for heating or lighting purposes (Sec. 3.1) Cover for additional perils are given through endorsements and for additional premium. (Sec. 3.2)
Fire policies should be written after proper assessment of material and moral hazards to ascertain the extent of exposure to insured perils. Completed proposal forms and/or full and complete insurance details should be obtained in all cases. Risks survey as prescribed should be conducted. Any further information, not given under the questionnaire, and may be needed for the purpose of properly evaluating the risk should also be obtained.