What is Fire Insurance?
Fire insurance is an important part of a Property Insurance policy, that helps protect your home and business properties such as apartment buildings, office spaces and shops from any damages and losses that could occur due to a fire.
*Disclaimer – Fire Insurance is not a standalone product. To avail this cover, you need to purchase Fire & Allied Perils Insurance.
Why Do You Need Fire Insurance?
Equipment Hazards
Organizations and homes need fire insurance because combustible materials, electrical equipment, and culinary appliances can prove to be operational hazards that increase the possibility of a fire breaking out.
Ineffective Fire Safety
A fire can significantly impact the company, disrupt operations, cause physical premises damage and result in financial loss if there is ineffective safety management.
Chemical Damages
Fires caused by chemical-based incidents, and gas cylinder/stove bursts can cause harm to people and property, and cause revenue losses. To safeguard yourself and your property from these damages and losses, it is important to get fire insurance.
What’s Great About Fire Insurance by eSanad?
- Value for Money: Covering property is a big deal. After all, there’s just so much at stake! Therefore, you’ll see that premiums for the same are usually high. However, we try our best to give you the best possible and most affordable premium to insure your property from fire and other potential damages.
- Digital Friendly: Being one of UAE’s digital insurance companies, we try and keep all our processes, right from buying fire insurance to making claims, digitally.
- Covers All Business Categories: Whether you want to protect your family business, office space, or a chain of stores, our fire insurance policy is suitable for all kinds of businesses, no matter how big or small they are.
- Plans for Renters: We understand that millennials today are increasingly choosing to rent and not necessarily own. That’s why we also offer plans for renters that only cover the things that YOU own. So, even if you want to cover your rental apartment, you can do so!
What’s Covered in Fire Insurance by eSanad?
Explosion or Implosion
Covers your property from any damage or losses caused due to an explosion or implosion.
Storms
For times when a storm storms into your shop or home. Covers for damage due to nature’s furies such as a dreadful storm or even lightning.
Floods
Protects your property from losses and damage when the rains are out of control, leading to floods that could also impact your property.
Earthquakes
Nobody can avoid nature’s furies but, what you can do is ensure you’re covered for any potential losses that could come your way due to the same. Fire insurance also covers damage and losses that occur due to earthquakes.
Types of Coverage
At eSanad, our fire insurance is not an independent policy, is part of complete coverage. This means everything from fires, and natural calamities will be covered. Some of the types of coverage we offer are given below.
Option 1
Covers only the contents of your home or business.
Option 2
Covers both your building and the contents of your home or business.
Option 3
Covers your only building.
Our Fire Insurance Offerings
- Fire Insurance for your Home – Our fire insurance is a vital coverage included in our home insurance. So, whether you have an apartment, villa or independent building; our home insurance will cover for not only damages and losses caused due to fire but will also cover for losses due to other unforeseen circumstances such as explosions, floods, and storms and other standard perils.
- Fire Insurance for your Business & Shop – Our fire insurance is also included in all business and shop insurance. This includes both small and large businesses and all shops, such as boutiques, office spaces, grocery stores, etc. This business and shop insurance won’t only cover losses and damage caused due to fire but, will also cover for losses that could arise due to storms, earthquakes, floods, and other standard perils.
Why Choose eSanad?
Super-Simple Claims
When you think about insurance, you think about claims. With us, when you file a claim, you can expect a smooth, easy, and quick process not to delay loss any further and to serve you better.
Zero Documentation
Don’t worry about the paperwork in your insurance anymore! Now you can easily buy your home insurance and make claims without any hassle!
Affordable Premium
We’ve made our policy super affordable to protect your home and its contents. After all, it’s about protecting one of your most prized possessions!
24*7 Support
We’re available to help you 24*7, with our call facilities operational even on national holidays.
Loved by Customers
We are trusted by our customers. This is inclusive of all policies/members/lives on-boarded from our inception.
More TLC, Less T&C
Transparency and simplicity are what we stand by. That’s why with us, there are no hidden clauses. We’ve simplified our documents to be understood by anyone.
Who Needs Fire Insurance?
Fire is unpredictable, so ideally anyone with a property should ensure their home or business is covered from damages and losses that could occur due to a fire.
Home Owners
Whether it’s been your home for years, or is your newfound dream home, a house is anyone’s most precious possession. Moreover, fire is known to be most prone in residential buildings. Thus, protecting it from the same is the least you can do to protect both your pocket and home.
Renters
People generally assume that fire insurance is only for people who own properties and that may be true for most insurers. However, at eSanad, we provide fire insurance for rental properties too. So, if you have a rented office space or a rented apartment, you can still get fire insurance for the contents you own, such as the contents of your home.
Small Business Owners
Whether you run a small grocery store or a small boutique with customized fashion and handicrafts, our fire insurance coverage is suitable for all types of businesses. If you’re someone running an independent, small business, it would be vital to protect your business from any potential losses and risks that could arise out of fires.
Medium Business Owners
If you run a chain of grocery stores, restaurants, or a medium sized enterprise; our fire insurance coverage is also suited for medium sized business owners to cover for any damages and losses that could be caused due to a fire; no matter how small or big it is.
Large Enterprises
If you’re someone who owns multiple properties owing to the large operations of your business, a property insurance is vital in protecting not one but all your properties that will not only help reduce business risk, but also improve goodwill for being a responsible business enterprise.
Types of Personal Properties Covered in Fire Insurance
Individual Apartment
This is for those who live in independent flats that are either part of housing societies or standalone buildings. The same could be either a flat owned by you or rented by you. Our product is suitable for both!
Independent Building
Perhaps you and your extended family live in a standalone building, owning, or renting flats in the entire building. In this case, you can choose to cover for them all with a fire insurance policy.
Independent Villa
If you own or have rented an independent villa or house, fire insurance coverage is vital to protect your villa and its contents from the potential risk of a fire.
Types of Business Properties Covered in Fire Insurance
Automobiles and Electronics
Businesses that primarily sell automobiles, mobile phones and their accessories, and other electronic items.
Grocery, General and Stationary Stores
From neighborhood grocery shops to budget friendly supermarkets and stores; all grocery stores too are covered by a fire insurance policy.
Offices and Educational Spaces
This category as part of our Property Insurance Policy is designed to suit office premises and educational institutions such as colleges, schools, and coaching classes.
Repairs and House help
This category of businesses includes everything from carpentry and plumbing repairs to motor garages and engineering workshops.
Home, Lifestyle and Fitness
From your favorite malls and clothing stores to spas, gyms, and other stores; a fire insurance covered by eSanad’s property insurance also covers all businesses in the personal lifestyle and fitness sector.
Food and Eatables
The one place everyone devours! From cafes and food trucks to restaurant chains and bakeries, our fire insurance coverage is well-suited for all kinds of eatery joints as well.
Healthcare
One of the most vital properties that should be protected from fires and all other risks as well; Property Insurance by eSanad also covers for Hospitals, Clinics, Diagnostic Centers and Pharmacies and other Medical Stores.
Service & Others
Apart from the categories mentioned above, fire insurance coverage as part of eSanad’s Property Insurance Policy is suitable for all sizes and nature of businesses.
What is the Sum Insured for Fire Insurance?
Sum insured refers to the amount the policyholder is liable to claim in the event of insured peril. Basically, it is the maximum amount that your insurance company can pay you when you file a claim for an unexpected/unpredictable event.
Your premium amount is determined by how much sum insured you choose. In this case, the value of your property/contents of your property also determines your sum insured. It is important to have an adequate sum insured which is not lower than the actual value of your property or assets.
Determining the Sum Insured based on Property type:
- Building: The market value of the property is used to calculate the sum insured. The valuation is based on the built-up area and other constructional specifics of the building. Another method, known as Reinstatement Value, is also used where the insurer will provide an amount that is required to reconstruct or buy new property.
- Plant and Machinery, Furniture, Fixtures and Fittings: The age of the machinery, its original cost and rarity, depreciation, inflation rates, etc., are all considered when determining the sum insured for these properties.
- Stocks: Valuation for stocks (goods/commodities) is based on their market value and age.
- Other Valuables and Antiques: For calculating the sum insured for these items, an Agreed Value Basis method is used. The insurer and the insured agree upon a specific value at the time of policy issuance to cover these items.
FAQs on Fire Insurance
Is fire insurance part of Property Insurance?
Yes, at eSanad, we provide protection against damage and losses caused due to a fire as part of our property all risk insurance. The same also protects your properties from other risks such as burglaries and natural calamities.
What is the eligibility to get fire insurance?
Anyone who owns a property or has even rented a property can buy a fire insurance.
Is fire insurance different from homeowners’ insurance?
Fire insurance provides coverage for costs related to a fire, thunder, lightning, and smoke, whereas homeowners’ insurance protects against many other types of risks. A homeowners insurance policy typically includes coverage for damage caused by a fire, but a stand-alone fire insurance policy may provide more extensive coverage.
What is not covered in fire insurance?
A fire insurance policy will not cover losses related to fires set deliberately. Fire insurance also only covers losses related to a fire, so if your property suffers loss or damage from another cause, it would not be covered.
What documents should I produce when filing a claim for fire?
When filing a fire insurance claim, the documents you are required to produce are:
- A copy of your policy and a duly filled claim form.
- Substantial proof of fire such as newspaper clippings, photographs, etc.
- Previous claim records.
- Fire brigade report and forensic report, if required.
- A copy of the final investigation report.
Last modified: January 15, 2024
