• Fire (including due to spontaneous combustion, fermentation, natural heating)
• Lightning
• Explosion / Implosion
• Aircraft damage
• Riot, Strike, Malicious Damage, Civil Commotion, Terrorism
• Storm, Cyclone, Typhoon, Tempest, Hurricane, Tornado, Flood, Inundation
• Impact damage (by vehicles, animals, etc.)
• Subsidence / Landslide (including rockslide)
• Bursting or overflowing of water tanks, apparatus, pipes
• Missile testing operations
• Bush fire, Forest fire
• Earthquake (can be included)

• Building & structures (including fixtures, fittings, basements, compound walls, etc.)
• Plant & Machinery
• Furniture, Fixtures & Fittings
• Stocks (raw material, stock-in-process, finished goods — valued at landed cost / input cost / manufacturing cost)
• Other contents

• Automatic cover for newly acquired/added property (up to 15% of sum insured for that item, excluding stocks — during policy period).
• Waiver of underinsurance up to 15% (no penalty if your sum insured is within 15% of actual value).
• Temporary removal of property (covered while shifted for repair/cleaning, etc.).

You can enhance the policy with:

• Accidental Damage Cover
• Loss of Rent / Additional Rent for alternate premises
• Escalation Cover (for increasing sum insured automatically)
• Leakage & Overflow of tanks
• Claims Preparation Costs
• Involuntary Betterment (for obsolete machinery)
• Impact Damage (enhanced)
• Burglary/Theft (sometimes as separate extension)

Common exclusions include:

• Wilful/negligent acts by insured
• War, invasion, nuclear risks
• Wear & tear, gradual deterioration, inherent vice
• Loss due to normal leakage/seepage (unless add-on)
• Consequential losses (like loss of profit — needs separate policy)
• Theft/burglary unless specifically extended
• Damage from faulty design, poor workmanship (unless accidental)

Always read the full policy wording for complete list.

• Building, Plant & Machinery, Furniture etc.: Usually Reinstatement Value (cost of new replacement without depreciation).
• Stocks: Market value / landed cost / manufacturing cost (as applicable).

Special items (bullion, curios, obsolete machinery): Can be on Agreed Value basis with valuation certificate.

• Duration: Usually 1 year (short-period policies possible with extra premium).
• Premium Factors: Location (e.g., industrial area in Faridabad), construction type (RCC vs others), fire safety measures, nature of business (hazardous or not), sum insured, add-ons, claims history.
• Low Excess/Deductible: Fixed small amount per claim (e.g., ₹5,000 or as per policy).
• Easy Renewal & Portability: Simple process across insurers.

Claim Process: Intimate insurer immediately → Submit documents within 30 days → Survey (for large claims) → Settlement.

Premium is deductible as business expense.