Property Insurance

The policy covers loss, destruction or damage to property insured arising out of fire, lightning and named perils.

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Property Policies are issued on an "All Risk" basis or on a named peril basis.

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All Risk

This type of policy indemnifies insured for loss of and/or damage to insured property/interests as a result of accidental external cause except those excluded in the policy.

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Named Peril

Coverage for specific perils spelled out in the policy. This type of policy indemnifies insured for physical loss of and/or damage to insured property/interest as a result of:

• Fire and Lightning

 

Optional Coverages:

• Typhoon

• Earthquake

• Extended Coverage (Perils of Standard Explosion, Aircraft Damage, Vehicle Impact Damage and Smoke Damage)

• Vandalism & Malicious mischief

• Riot & Strike

• Tidal Wave, food, Highwater & Overflow (against rising of navigable waters)

 

Business Interruption

Covers loss of gross profits or revenue, increased cost of working following business interruption as a result of a loss or destruction of insured property under a Property Insurance policy.