There are two categories of cover under this product in which one can insure property.

The basic being the cover against the losses &/or damages due to Fire and lightning only.

The additional cover is against losses &/or damages due to Fire, lightning and Allied Perils.

Both categories share similar terms however, the additional coverage of Allied perils has a different rating. Above the basic cover, a client can benefit from the insurance against losses and/or damages due to Burglary.

The Sum Insured may be either on the basis of the actual value or the new replacement value of the property but should be adequate to cover the total exposure. The customers should be able to provide the amount Insured and may seek help of our underwriters to asses this value. Determining the Sum Insured is very crucial and needs to be given accurately in order to avoid the application of the average clause in case of a claim.

The rate chargeable is always applied on "Per Mille" basis (for every thousand units) on the Total Sum Insured and is very dependant on the nature of risk, location and the housekeeping. A deductible will apply on each and every loss in addition to other conditions