Fire & Allied Perils Insurance
Safeguard your valuable assets and ensure a secure future with KBZMS’s Fire Insurance, offering comprehensive protection against unforeseen events.
Product Highlights
Properties you can buy fire insurance for
Buildings : Excludes land value.
Furniture and Household Contents
Plant, Machinery, Equipment, and Related Materials
Stocks of Goods : Includes production materials, raw materials, work-in-progress, and finished goods.
Stocks can be insured either in
Fixed Policy: Provides coverage based on a pre-determined sum insured, agreed upon at the policy’s inception, ideal for businesses with consistent inventory levels.
Declaration Policy: An annual policy offering flexible coverage for businesses with fluctuating inventory. The sum insured is adjusted monthly based on declared values, aligning with the Market Value at the time of loss.
Note: Declaration policy is designed for long-term (one-year) coverage and is not suitable for short-term insurance needs.
Basic Premium
In accordance with the tariff based on the classes of the building to be insured, its occupation, and its surrounding buildings, the premium ratings will vary from 0.20% to 3.5% on the sum insured.
Additional Premium
Sum Insured
Coverage & Benefits
What is Covered
Basic Coverage
Fire
Lightning
Explosion of gas used for domestic purposes only
Additional Coverage
Riot, Strike and Malicious damage
Aircraft damage
Impact damage
Subsidence and landslide
Earthquake fire, fire and shock damage caused by earthquake
Explosion
Spontaneous combustion
Storm tempest – Storm, Typhoon, Hurricane, Tempest (Various Storms)
Flood and Inundation
Burglary
War risk
No Claim Bonus (NCB)
If no claims are made within a year, the insured may be eligible for a discount upon renewal. When renewing the policy, the total premium from the previous year is compared to the renewal premium for the current year. The insured will receive 25% of the lower premium as a no claim bonus.
Insurance Eligibility
Who can be Insured
Anyone who has an insurable interest has the right to be insured.
Period of Insurance
10 days, 1 month, 3 months, 6 months or 1 year
Related Products
Commercial Lines Insurance
Industrial All Risks Insurance (IAR)
Enjoy a wide scope of cover on your property with an Industrial All Risk policy that encompasses accidental loss and property damage. This includes damage caused by fire, flooding, earthquakes, etc.
Commercial Lines Insurance
Contractors’ All Risks/Erection All Risks Insurance(CAR/EAR)
During the construction and erection phases, KBZMS provides customized insurance solutions for risks ranging from transport, all the way to operational risks.
Personal Lines Insurance
Motor Vehicle Insurance
Our motor vehicle insurance not only safeguards against damage to your car but also covers damage to third parties. Drive with confidence, knowing both you and others are fully protected.
