FIRE AND SPECIAL PERIL INSURANCE FACTS

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FIRE AND SPECIAL PERILS INSURANCE FACTS
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What Is It?

• Fire and special perils insurance is used to
  provide cover against any damage to a property
  caused by fire or natural disaster including
  landslide, earthquake, tempest, flood etc.

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What Type Of Special Perils Are Covered?

• Fire
• Explosion
• Storm
• Tempest
• Flood
• Landslide
• Riots
• Aircraft damage

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What Type Of Building Is Suitable For having it?

• Building which is constructed including
• RCC
• RBC
• Tiles
• ACC roof
• Walls of brick /stone /concrete

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Factors That Affects Fire Insurance
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1. Nature Of Risk
It includes Construction Size of risk Goods
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2. Potential Effects Of Fire On Stocks

• It includes
• Stock procurement Stock suceptebility

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3. Fire Protection Arrangements
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4. Circumstance of risk
It is based upon Geographic location Degree of
hazard from adjacent properties
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How Sum Insured is Calculated in Fire and
Special Peril Insurance?
It is based on the re-instatement value of the
structure of the house. The re-instatement
value or reconstruction value Is depend on the
construction value.
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