HDFC ERGO Fire and Special Perils Insurance Policy

Standard Fire and Special Perils Insurance Policy

We understand how you’ve put a lot of time, hard work and considerable money into building up your business. We also understand your needs when misfortune strikes when you least expect it. Almost anything can happen at any time – a short circuit can reduce your assets to ashes, a burst pipe can flood your premises, a riot or act of terrorism can wipe away years of effort...

To help you protect your business against such uncertainties, HDFC ERGO provides one of the best Fire & Allied Perils products in the industry. We take pride in providing you with our comprehensive protection backed by sound financial capability.

This policy is Ideal for SME’s and Corporate alike, those who need coverage for their business against uncontrollable situations that can devastate property and businesses.

The normal policy period is 12 months though a long term policy of up to 10 years is available for houses, at an attractive discount.

The policy protects you from financial loss as a result of “named perils”. Standard perils covered are:

  • Fire
  • Lightning
  • Explosion/Implosion
  • Storm, tempest, flood, inundation group of perils (STFI)
  • Subsidence and Landslide including Rock slide
  • Impact damage by vehicles/animals/aircraft
  • Riots, strikes, malicious acts, terrorism
  • Missile testing operations
  • Bursting of pipes/water tanks, sprinkler leakage and bush fires
  • Aircraft Damage
  • You can also choose to extend the standard cover by including perils mentioned in the extensions.

As an extension of your policy, you can choose to financial covers against the following events –

  • Earthquake (fire and shock)
  • Spontaneous combustion
  • Deterioration of stocks in cold storage
  • Impact damage due to own vehicles
  • Omission to insure additions
  • Fees of architect, surveyor & consulting engineer in excess of 3% of claim amount
  • Debris removal in excess of 1% of claim amount
  • Terrorism
  • Appraisement Clause
  • Breakage Of Fixed Glass And Outdoor Signs
  • Civil Authorities Clause/Acts of Civil Authorities
  • Immediate Repair Clause
  • Sue And Labour Clause
  • Brands & Trademarks Clause/ Brands & Labels Clause (also loss of damaged goods)
  • On Account of Payment Clause
  • 72 Hours Clause
  • Electrical clause/ Electrical Installation/Electrical Injury/Electrical Breakdown Clause
  • Automatic Extension Clause
  • Obsolete Parts Clause
  • Cost of clearing Drains Clause
  • Broad Water Damage Clause
  • We recommend that your assets be insured on a replacement / reinstatement cost basis to get full protection following a loss.
  • The premium will depend on the type of occupancy, cover opted, claims experience, fire protection appliances and deductible opted under the policy
  • The policy is subject to a compulsory deductible and will depend upon the sum insured.

The Standard policy does not cover your business against the following -

  • Willful acts or gross negligence
  • Destruction/damage by own fermentation, natural heating or spontaneous combustion
  • Explosion/Implosion damage to Boilers, damage caused by centrifugal forces
  • Forest fire
  • War and nuclear group of perils
  • Unspecified precious stones, cheques, currency, documents, etc. unless specifically declared
  • Consequential losses
  • Theft during/after operation of peril
  • Terrorism