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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.
- Insured Period & Premium
- Who should insure?
- Basic Coverage
- Additional Covers
- No Claim Bonus
- Claim Procedure
- Need to Inform
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 insuredPremium Rate : Min 0.13% ~ Max 3.50%
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 GoodsEligibility
Owner Joint-owners Spouse of owner Any person who owns the property
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.