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FIRE & PERIL INSURANCE
Fire & Peril Insurance is a kind of service that can protect unmovable things and movable things from danger of fire.
- Who should insure?
- Insured Period & Premium
- Basic Coverage
- Additional Covers
- No Claim Bonus
- Claim Procedure
- Need to Inform
Business Men, Men who own houses and men who do business with their shops should get Fire & Peril Insurance.
Insurable Products
- Building
- Furnishings
- Machinery
- Tools
- Goods
Eligibility
- Owner
- Joint-owners
- Spouse of owner
- Any person who owns the property
Insured Period
The term of the policy will be 10 days to 1 year and can be renewed on a yearly basic.Premium
The premium amount may be depending on- Building class
- Occupation of building
- Adjacent of the building
- Total sum insured
Basic Coverage
- Fire
- Lightning
- Explosion caused by gas used for domestic purpose
- Losses or damages of extinguishing
Additional Covers
- Riot,strike and malicious damage : 0.06%
- Earthquake and volcano explosion : 0.10%
- Various types of storm : 0.20% ~ 0.25%
- Flood and inundation : 0.10%
- Subsidence and landslide : 0.10%
- Burglary : 0.25% ~ 1%
- War Risk : 0.10%
No Claim Bonus
- 25% on premium from second year for not having a claim against one’s policy in the first year.
Claim Procedure
- One should inform to the company if any loss occur.
- One should request the claim together with some required documents.
Need to Inform
- If the insured item has moved to different place.
- If the owner of the insured item has changed .
- If the value of the insured item has changed.