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It is important to keep your office safe from the various perils that can occur, regardless of how extreme they may seem. You have worked hard to make sure your business runs smoothly, for which you no doubt would have been required to keep your office upgraded with the best technology and equipment to make sure that your targets are achieved in a way that benefits both you and your client.

Not only do you want to keep your clients happy and provide your employees with the best work environment, you also want to make sure the edifice of your organization is kept safe and maintained, especially in times of natural disasters and even fires.

Disasters that occur because of fire or other perils happen rarely, but they do happen. In the event that you suffer from such a peril, it would be useful to have fire insurance to cover your property damages effectively and with a reduced burden on your own pocket. Contact us today and get a quote suitable for your needs. We are just one phone call away!

icon-quote-left At present, there is no standalone policy for fire insurance as it is usually amalgamated with other office insurance such as fidelity guarantee insurance, business interruption insurance, burglary insurance, electronic equipment insurance, machinery breakdown insurance, glass insurance, money insurance, public liability insurance, product liability insurance, work injury compensation insurance and group personal accident insurance. icon-quote-right

Having a fire insurance policy is useful because most insurance policies do not vouch for certain types of perils, such as natural disasters. The basic fire insurance policy provides indemnity to you in the event of any damage to the property caused by certain perils, with the primary peril being fire and lightning.

Other common circumstances that are proximately caused by fire as also covered, such as:

icon-check-circle Property damaged by water or other extinguishing agents used for extinguishing the fire

icon-check-circle Property damaged by the fire brigade in the execution of its duties

icon-check-circle Property blown up to prevent a fire from spreading

icon-check-circle Damage caused by falling walls or parts of a building where there is a fire.

The types of property owned by businesses that are subject to fire risk, and so need to be insured, can include buildings, plant, machinery and equipment, stock in trade, furniture, fittings, and fixtures as a fire insurance policy is generally underwritten on the basis of separate sums for each item. The main headings under which the property is insured are always reflected in the schedule.

When it comes to fire insurance on property, it’s important that the subject matter of the insurance is defined accurately, as it forms the basis of the policy. This also helps to guide the insurer in fixing the premium to be charged because if an adequate description is not made, that policy is generally not issued.

The reason that subject matter should be described adequately is because insurers do not assure insurance against loss of fire, rather they insure only against the loss that results from the destruction of the specific object insured.

It is therefore pertinent that you describe all the objects for which you require insurance. Only then can you be entitled to recover the policy, and the policy which you attain will contain the description you have mentioned.

Apart from fire and lightening perils, other circumstances can also be insured against after being subject to an extra premium. These include the following:

icon-check-circle Perils of a chemical nature – this includes perils such as explosions, spontaneous fermentation and heating or combustion.
icon-check-circle Social perils – this can include riots and strikes, locked out workers, persons taking part in labour disturbances and malicious damages.
icon-check-circle Perils of nature – examples of perils of nature include earthquakes and volcanic eruptions, subsidence, hurricanes, cyclones, typhoons, wind-storms and floods.
icon-check-circle Misc perils – miscellaneous perils are less common, but account for events such as sprinkler leakage, bursting or overflowing of water tanks, smoke damage and impact by road vehicles and aircraft.
Our Fire Insurance policy has several exclusions that come under it, to prevent the insurer from going bankrupt and to eliminate many of the risks covered under other policies. The exclusions are divided into risk exclusions and item exclusions. Both of these are explained below:

Risk Exclusions

Apart from the general risks excluded in case of war, strikes, riots, and nuclear incidents; other risk exclusions with regard to a Fire Insurance policy are:

icon-times-circle Any loss that has occurred due to theft immediately before or after the fire

icon-times-circle Loss or damage of property due to its own natural combustion and heating

icon-times-circle All losses that are incurred due to the burning of property on the orders of a public authority figure

icon-times-circle Losses resultant of a subterranean fire

icon-times-circle Property damage that occurs for any reason other than a fire

Items Excluded from Policy

The following items are also not insured under the Fire Insurance policy and will not be reimbursed by the agency unless they have been insured under separate policies or within clauses of the same policy:

icon-times-circle Gold or silver bullion, as well as all unset precious stones

icon-times-circle Any collectible or artwork worth more than $200

icon-times-circle Any plans, blueprints, manuscripts, designs, models, moulds, patterns or drawings that have been destroyed within the fire

icon-times-circle All securities, documents, stamps, paper money or coins, cheque books, account logs, or computer data system records

icon-times-circle Coal, especially when the fire has resulted due to its spontaneous combustion

icon-times-circle Explosives of any kind

icon-times-circle Any property damage that occurs due to the accidental or deliberate burning of the land to clear it away

Loss of property and belongings due to explosions are also a part of the item exclusions. However, this claim differs for gas explosions that occur in a property that is not equipped with gas power. In such cases, the property must not be a part of any gas work and the usage of the gas should be for lighting or other domestic purposes only.

Please submit the completed General Claim Form together with the supporting documents (where applicable) for claims consideration:

• Copy of Police Report or Incident Report

• Colour Photos of damaged property and location

• CCTV footage showing circumstances of accident

• Assessment Report from repairer on the cause and extent of the property damage

• Copy of original Purchase invoices/receipts for the lost or damaged property or full description of the items including make, model, age and condition, and purchase date and price

• At least 2 repair/replacement quotations for the lost or damaged property

• Original repair/replacement invoices or receipts

• All correspondences exchanged between you and the negligent third party

You will be facilitated by an experienced consultant who will review your company profile in detail without any obligation to you, and advise you with the best possible solutions and steps you can take to make sure you and your company’s needs are met.

Once you make your final decision, you can conveniently send over your documents via email or fax and start your application process immediately.

Keep in touch with us afterwards as well in case you need any extra support or service, for which we are always available, at the touch of your fingertips!

We collaborate closely with representatives from the following insurers:

icon-star AVIVA Ltd
icon-star AXA Insurance Singapore Pte Ltd
icon-star AIG Asia Pacific Insurance Pte Ltd
icon-star China Taiping Insurance (Singapore) Pte Ltd
icon-star EQ Insurance Company Ltd
icon-star Liberty Insurance Pte Ltd
icon-star MSIG Insurance (Singapore) Pte Ltd
icon-star NTUC Income
icon-star Overseas Assurance Corporation (OAC)
icon-star QBE Insurance (International) Limited
icon-star RSA – Royal & Sun Alliance Insurance Plc
icon-star Tokio Marine Insurance Singapore Ltd.

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