
Fire Insurance
Standard Fire and Special Perils (SFSP) policy is a location specific form of property insurance that covers damages and losses arising out of fire and other allied perils as per the named peril section of the policy. Till 01/04/2021, all the property insurances were done under SFSP policy. However. W.e.f 01/04/2021, only properties having sum insured more than 50 crores are insured in SFSP policy.
Properties Covered.
Coverage
Fire insurance policy covers the losses / damage to the property happening due to the following named perils
Common Add-on Covers.
Exclusions
Since it is a named peril policy, the damages/ losses arising out of covered perils are included and any causes other than the named perils fall under exclusion.
Types of Coverages
Sum Insured:
Policies are available on market value as well reinstatement value basis as per details below.
Premium:
Premium rates are currently based on the nature of occupancy.