Fire Insurance
Fire Insurance
National Insurance Company Limited (NIC) offers fire insurance policies under the “Standard Fire and Special Perils Policy (SFSP),” which protect homes, businesses, and industrial properties against losses caused by fire, explosions, natural calamities, riots, and other specified perils. These policies are comprehensive, affordable, and designed to safeguard both buildings and contents.
Key Fire Insurance Policies by National Insurance
1. Standard Fire and Special Perils Policy (SFSP)
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Coverage:
- Fire, lightning, explosion, implosion
- Riots, strikes, malicious damage
- Storm, cyclone, flood, and inundation
- Earthquake, landslide, rockslide
- Impact damage (vehicles, aircraft, etc.)
- Terrorism (optional add-on)
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Who Can Apply:
- Homeowners, shop owners, warehouse owners, manufacturers, corporates, and industries.
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Sum Insured:
- Based on reinstatement value or market value of property.
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Exclusions:
- Damage due to own fermentation, natural heating, spontaneous combustion, war risks, nuclear perils.
2. Consequential Loss (Fire) Policy
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Coverage:
- Protects against financial losses due to interruption of business following fire damage.
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Best For:
- Industries, warehouses, and businesses where downtime can cause major revenue loss.
Benefits of National Insurance Fire Policies
Comprehensive protection against multiple perils beyond fire.
Low premium rates compared to potential financial losses.
Add-on covers available for terrorism, architects’ fees, debris removal, and forest fire.
Wide eligibility: Individuals, corporates, industries, and institutions.
Claim support with 24/7 assistance and structured claims procedure.
