What does fire insurance cover?

Fire insurance covers the following incidents: Fire; Bush fire, forest fire, or jungle fire; Explosion or implosion; Lightning; Landslides and rockslides; Impact damage; Missile testing operations; Riots, strikes, and malicious damages; Bursting or overflowing of water tanks, apparatus, and pipes; Leakage from automatic sprinkler installations; Earthquakes and volcanic eruptions; Storms, cyclones, typhoons, tempests, hurricanes, tornadoes, tsunamis, floods, and inundations; and Theft within 7 days from the occurrence of and proximately caused by any of the above insured events.

What is covered in burglary insurance?

Burglary insurance covers loss or damage to the contents, damage to the premises, repair or replacement of locks and keys of safes and strong rooms, the repair cost of underground cables, pipes, and overhead tanks, and loss or damage to assets or equipment (except stock).

How can I file a claim against my fire and burglary insurance policy with Tata AIG?

To file a claim, visit the Tata AIG official website, click on 'Claims' at the top of the homepage, and select 'Initiate A Claim' choosing your product type (AIGC). Then, log in with your registered phone number, fill out the claims form, and upload any necessary documents. An insurance agent will contact you to guide you through the process.

What are the benefits of fire and burglary insurance?

The benefits include financial protection through reimbursement for losses from fire damage, theft, or burglary; peace of mind knowing you are protected against unexpected events; and comprehensive coverage that helps manage the financial burden of repairing or replacing damaged property and valuables.

How can we define burglary legally?

Legally, burglary is defined as theft following unforeseen and unauthorized entry into or exit from premises by forcible, violent, and visible means, with the intent to steal contents or property. It is also commonly referred to as housebreaking.

How is burglary different from theft?

Burglary involves breaking into a property through violent or forcible means, whereas theft refers to stealing when one already has access to the property. Theft is often treated as an add-on under burglary insurance, as it typically occurs due to negligence.

How can I reduce my fire and burglary insurance premium?

You can reduce your premium by taking preventive measures such as installing smoke detectors, fire alarms, and warning sensors; comparing different plans to choose the best coverage at a reasonable premium; and keeping an updated record of your valuables and properties to provide accurate information to your insurer.

What are policy add-ons? Can I get them with my Tata AIG Fire and Burglary Insurance Policy?

Policy add-ons are additional coverage options that you can add to a standard insurance policy for an extra premium. With Tata AIG Fire and Burglary Insurance, you can choose from over 16 optional add-ons available under the fire section to enhance your protection.

Is filing an FIR necessary to claim burglary insurance?

Yes, filing an FIR is mandatory to file a claim against a fire and burglary insurance policy.

How long does my fire insurance policy protect me?

The fire and burglary insurance policy keeps you insured for a duration of one year. You can renew your policy through a quick online process.

Can I cover my chain of restaurants with the Tata AIG Fire and Burglary Insurance policy?

Yes, the Tata AIG Fire and Burglary Insurance policy is suitable for both independent single-location businesses and multi-location enterprises, such as a chain of restaurants.

Can I partially select my assets to insure under my fire and burglary insurance plan?

No, the policy covers the entire value of your plant, machinery, stock, and fixtures, fittings, and furniture (FFF) as per the risk premise. You cannot choose to insure only a portion of your assets.

Can I have both fire and burglary insurance under the same policy?

Yes, with Tata AIG you can protect your property and valuables against losses and damages due to both fire and burglary under a single policy.

How is the value of my property determined for insurance purposes?

The value of your property is determined by factors such as its market value, the replacement cost of the building and its contents, and the value of any valuable belongings. Supporting documentation like photographs, receipts, or professional appraisals can help substantiate your property's value.

I left my door unlocked before the theft. Will it be covered under burglary insurance?

No, leaving your door unlocked is considered an act of negligence, and such a lapse in security is not covered under burglary insurance.

Secure your Premises with a Fire & Burglary Policy

Get Your Personalized Fire & Burglary Quote

Fire & Burglary Insurance Plans

Fire and Burglary insurance packages are designed to provide coverage for private or individual entities, companies, and businesses to cover any kind of loss resulting from fire and allied perils outside your control.
By partnering with us at Tata AIG, you can access flexible fire and burglary coverage with optional add-ons.
Currently, we offer two plans under our roster to insure your business:

Business Guard Sookshma Package Policy provides coverage for your property up to a sum insured of ₹5 Crores at one location.
Business Guard Laghu Package Policy provides coverage for your property for a sum insured exceeding ₹5 Crores up to a maximum limit of ₹50 Crores at one location.

What is Fire Insurance?

Fire insurance is a type of property insurance that individuals, or corporate entities can opt for, to cover losses or damages caused to insured property. This property can be office buildings, private property like houses, or any other place where you run your business.
In short, it is essentially a contract between the insured and the insurance provider, where the insurance provider agrees to cover the financial loss that the insured suffers due to a fire outbreak.
Since fire insurance policies are unique products, there are some key points to note when filing a claim. Firstly, the loss caused by the fire must satisfy two conditions:

It Must be Due to an Actual Fire: The loss or damage to the insured property must be due to an actual fire.
Fire Must be Accidental: No intentional or wilful fire damage to the insured property on your part will be covered.

Why Is Fire Insurance Important?

Protects Against Financial Losses

When operating a business of any kind, getting some form of property insurance is crucial to protect against financial losses. This is because unforeseen events like fire and natural disasters can cause massive and, in some cases, a total loss of goods.
Without insurance, you will have to bear these expenses out of pocket. Moreover, repair and reconstruction costs are not cheap, so it is better to get fire insurance to protect oneself from such damages at the earliest date.

Covers Property Damage

A fire insurance policy covers the repair and replacement costs of movable and immovable property in case of a fire explosion. Property types covered under a fire insurance plan include furniture, office buildings, plant and machinery, fixtures, fittings, and stock.
Stocks here can include:

Finished goods, semi-finished goods, stock in process, stock invoiced and ready for dispatch.
Raw materials and packing materials.
Stocks held in trust for which the insured is responsible for.
Stocks in Open at the Insured Premises.

Coverage for Other Perils

Fire insurance policies cover other perils like malicious damage, land subsidence, impact damages, natural disasters, and theft - within seven days from the occurrence of and proximately caused by an insured event.
This is because businesses operating in certain regions are often more prone to fire and natural disasters. A fire insurance policy is the best way to ensure these properties are financially secured.

Characteristics of Fire Insurance by Tata AIG

Extensive List of Inclusions

We understand that a fire can be caused due to varied reasons. Therefore, our fire insurance policy covers losses and damages to your property and valuables caused due to multiple reasons like lightning, spontaneous combustion, explosions, etc.

In-Built Covers

We provide you with in-built covers with your fire insurance policy for expenses such as professional fees for architects, surveyors, and consulting engineers, cost of removal of debris, temporary removal of stock, and more, as mentioned in the policy schedule.

Easy Claim Process

We understand the inconvenience that property damage causes. Hence, we have a quick and straightforward claim process to support you in such difficult times. Moreover, you can track your claim status online anytime you want.

Suitable For All Business Sizes

From a kirana store to a shopping mall, you can secure your business, however big or small, with our fire insurance policy.

Why Do You Need Burglary Insurance?

Property Cover

If someone breaks into your office premises and steals your merchandise in stock, fittings, and other assets, it could result in a huge loss. Opting for burglary insurance will offer more financial security and cover any subsequent losses.
It can be especially beneficial if you live in a theft-prone area, as it will cover damages caused to the premises resulting from any robberies, and the cost of the stolen goods will be compensated by your insurer.

Value for Money

As stated, property losses are a huge expense to bear. However, paying an additional premium for this extended coverage can help you save money in the long run. This is because any compensation expenses without insurance would need to be borne by you as opposed to your insurer covering the losses.

Covers All Business Categories

Burglary insurance covers all property types under its plans. This includes office spaces, independent shops, chain stores, etc., regardless of their size. For example, owners of large corporations with multiple people entering their premises daily benefit from purchasing burglary insurance.
It is also useful for people who leave their premises unattended for long periods of time or for owners of large storage spaces where a lot of goods are stored.

Risk-Proof Businesses

Business owners opt for burglary insurance as it risk-proof businesses from violent or hostile robberies. So, if your office space or business is in an area prone to theft, it may be time to get burglary insurance coverage to prevent future losses.

Inclusions Under Fire Insurance in India

Insured Events	Details
Fire	Physical damage, loss or destruction caused to the insured property. This includes fires caused due to its own fermentation, natural heating or spontaneous combustion.
Bush Fire/Forest Fire/Jungle Fire	Spontaneous fires due to extreme weather conditions or setting fire to overgrown bushes, which end up causing damage to the insured property, are covered,
Explosion or Implosion	Damages caused by fire explosions or implosions. (Explosions here would mean the violent tearing apart of a permanent structure and the forceful ejection of its components)
Lightning	Damages and fire outbursts caused by lightning are covered.
Landslides/Rockslides	Property damages resulting from land subsidence (the sudden sinking of land), landslides and rockslides.
Impact Damage	Damages caused by the impact of external physical objects like vehicles, animals, falling trees, aircraft, walls, etc.
Missile Testing Operations	Damages or losses incurred due to missile testing operations performed on property premises.
Riots, Strikes and Malicious Damages	Damages and losses caused to the insured property due to riots, strikes or fear-mongering activity.
Bursting or Overflowing of Water Tanks, Apparatus and Pipes	Water damage caused to the insured property from the mentioned causes.
Leakage From Automatic Sprinkler Installations	Damage from accidental water discharge from automatic sprinkler systems
Earthquakes and Volcanic Eruptions	Violent destruction and loss caused to insured property or goods from the mentioned perils.
Storms, Cyclones, Typhoons, Tempests, Hurricanes, Tornados, Tsunamis, Floods and Inundations	Violent destruction and loss caused to insured property or goods from the mentioned perils.
Theft	Within 7 days from the occurrence of and proximately caused by any of the above-insured events

Exclusions Under Fire Insurance in India

Exclusions Under Insured Events	Details
Fire	Fires Caused By Heating or drying processes; Burning of Insured Property by order of any Public Authority
Explosion or implosion	Caused to boilers, economisers, other vessels, machinery or apparatus in which steam is generated, or their contents, resulting from their own explosion or implosion; Caused by centrifugal forces.
Landslides/Rockslides	Caused By Normal cracking, settlement or bedding down of new structures; The settlement or movement of the made-up ground; Coastal or river erosion; Defective design or workmanship or use of defective materials; Demolition, construction, structural alterations or repair of any property, or groundworks or excavations.
Impact Damage	Pressure waves caused by aircraft or other aerial or space devices travelling at sonic or supersonic speeds; Damage by a vehicle, animal or aircraft belonging to or owned by the insured or their employee(s) caused during employment.
Leakage From Automatic Sprinkler Installations	Repairs or alterations in the building in which your business is located; Repairs, removal or extension of any sprinkler installation; Defects in the construction known to you.
Riots, Strikes, and Malicious Damages	Caused By Total or partial cessation of work, retardation/interruption/cessation of any process/operations/omissions of any kind; Temporary or permanent dispossession (of property), confiscation, commandeering, requisition or destruction by order of the government or any lawful authority; Permanent dispossession of any building by unlawful occupation by any person.
Theft	Not Covered if it is Of any article or item outside your premises; Of any article or thing attached from the outside of the outer walls or the roof of your premises, unless securely mounted.

Inclusions Under Burglary Insurance in India

Here are the inclusions you can find for the plans we provide.

Insured Events	Details
Loss or Damage to the Contents	Caused by burglary/housebreaking or hold-up. (Content here implies articles or things in your premises that are not permanently attached or fixed to the structure of your premises)
Damage to the Premises	Any damages caused to the premises as described in your policy terms during burglary/housebreaking or hold-up.
Repair/ Replacement of Locks and Keys of Safes and Strong Room (Room for the Secure Storage of Money)	Any damages caused to the premises as described in your policy terms during burglary/housebreaking or hold-up, which is subject to a limit of 5% of the admissible claim
Repair Cost of Underground Cable, Pipes and Overhead Tanks	Any damages caused to the premises as described in your policy terms during burglary/housebreaking or hold-up, which is subject to a limit of 5% of the admissible claim
Loss or Damage to Asset/Equipment (Excluding Stocks)	Can be acquired during the policy period; Liability will not exceed 5% of the sum insured on items as mentioned in the policy schedule; The insured must notify us of each additional insurance and pay the additional premiums from the date of inclusion.
Theft (Optional)	On Payment of an Additional Premium Coverage for theft without actual forcible and violent entry or exit from the premises by the person or persons committing such theft.

Exclusions Under Burglary Insurance in India

Exclusions	Details
Jewellery, Personal Effects, Works of Art, Etc.	Gold or silver articles, watches, jewellery, precious stones, medals, coins, curios, sculptures, manuscripts, rare books, plans, specifications, patterns, models, moulds and designs - unless specifically mentioned in the schedule and expressly included in the policy.
Documents	Deeds, bonds, bills of exchange, promissory notes, money or securities for money, stamps, books of accounts, business books or documents, cheques, share certificates, promissory notes, tickets, stamp collection, coin collections, blueprints, documents of title to goods, contracts or other legal documents, or documents of any other kind.
Fire	Loss of damage by fire, however, caused.
Loss and Damage if the Insured or the Insured Person’s Employee, Inmate or Member is Involved in the Theft.	Claims for damages and losses where you, your employees, group members or inmates are involved in the theft will not be admissible.
Natural Disasters	Losses and damages resulting directly, indirectly, remotely or proximately from earthquakes, volcanic eruptions, typhoon hurricanes, tornados, cyclones, or other convulsions of nature or atmospheric disturbances.
Reported Losses Due to Negligence/Deception	Unexplained loss due to errors or willful omissions; Losses discovered when making an inventory or periodic stock-taking; Loss resulting from your voluntarily parting with title or possession of any property; Loss of property resulting from deception.
Loss From Loot, Ransack, Spillage or Pilferage	Loot: Seizing and carrying away property by force or violent means; Pilferage: Theft of contents in small quantities by authorised personnel on the insured premises; Ransack: Loss or damage to the property while searching through or examining the premises through violent/careless means; Spillage: Flow, movement, fall or spread of contents over the edge of or outside the container/premises;
Thefts and Attempted Theft Occurring Outside of Your Premises	Yards, gardens, open spaces or outbuildings unless the contents are specifically insured under the policy.
Permanent or Temporary Dispossession By Lawful Authorities	Permanent or temporary dispossession resulting from confiscation, commandeering or requisition by lawfully constituted authorities.
Inoccupation of Premises	If the premises/insured property has been left unattended for 30 or more consecutive days and nights.
Alterations to the Premises	Any material alterations to the premises that can increase risk or facilitate the relaxation of safeguards protecting the premises/insured property.
Excess or Deductible	The first amount of each and every claim stated in the policy as the excess or deductible.

What is Burglary Insurance?

Burglary insurance is another type of property insurance that protects your business from loss or damage to assets like furniture and fixtures, machinery, equipment, etc., due to a burglary/theft.

Here, Burglary means unforeseen and unauthorised entry into the premises by forcible, violent and visible means with the intent to steal contents or property.

Whereas, Theft implies taking movable property dishonestly without your consent with the intention of permanently depriving you of the property. Theft is an additional cover that can be opted for under this bundle.

Remember, Theft and Burglary DO NOT mean the same thing under this policy.
Generally, this cover comes bundled with a fire insurance plan. It is often included as an add-on cover.
In short, burglary insurance offers additional security to your insured property by providing more coverage. This applies to independent houses, shops, or office spaces owned by you.
We provide burglary insurance as an add-on under our Tata AIG Business Guard Laghu and Sookshma plans.

Details of Coverage Under Business Guard Sookshma and Laghu Package Policies by Tata AIG

Partial Loss

Under a partial loss policy, the portion of the stock or property destroyed is reimbursed after the incurred loss/occurrence of the insured event.

If your insured property is a partial loss, then we will reimburse you for the cost of repairs to the extent required to bring that property to a condition the same as, but not superior, better or more extensive than its condition if it were new on the date, it was damaged.
In case of a partial loss on stock, we will reimburse you to the extent of the loss incurred.

Total Loss

As the name suggests, a total loss policy covers the full value of the insured property lost in a situation where it is completely destroyed, lost, or damaged beyond retrieval or repair; or the cost of repairing it is more than the sum insured of that item. Here are the losses covered under this policy under a total loss:

For Building or Plant and Machinery or Furniture, Fixture, Fittings: In cases of a total loss, we will pay for the total value of the building, plant and machinery or furniture, fixture, and fittings.
If required, we will also pay for the reconstruction of a new building on the same site or another site.
In case of reconstruction on another site, we will only pay up to the amount required to reconstruct the property on the same site. Any additional expenses incurred due to site changes must be borne by you.

For Stock: For total losses in stock, we will pay you,

The landed cost at your premises for stock of raw materials.
The total manufacturing cost for stock of finished goods.
The input value of stock in process at the time of loss.
In Case of Goods Sold But Not Dispatched: The claim amount will be paid on the basis of the contract price of goods if the sale is cancelled wholly or to the extent of loss or damage caused by an insured event.

Characteristics of Burglary Insurance by Tata AIG

Wide Coverage

We understand how much you value your possessions. Therefore, we cover any loss or damage to the contents caused by burglary/housebreaking or hold-up. Additionally, you get coverage for any damage to the premises described in the policy schedule during burglary/housebreaking or hold-up.

Safety Measures

In case of an unfortunate incident, we compensate you for the reasonable cost incurred by you for the repair/ replacement of damaged locks and keys of safes and strong room within the insured premises (subject to a limit of 5% of admissible claim) to ensure your safety in the future.

Cost of Repairs

Repairs are expensive! Understanding this, we compensate you for the repair cost of underground cable, pipes, and overhead tanks damaged during burglary/housebreaking or holdup (subject to a limit of 5% of admissible claim).

Affordable Premium

Burglary and housebreaking can result in expensive potential damages. Hence, burglary insurance premiums are usually pretty high. However, at Tata AIG., we try to give you the best possible protection for your prized possessions at affordable premiums.

Digital Process

You get a paperless, digital, and transparent process with Tata AIG that starts right from buying a burglary insurance plan online to filing an online claim against your policy.

Tips to File Fire and Burglary Insurance Claim

Inform the insurer

If an unforeseen and unfortunate mishap occurs, the first thing you should do is inform us to file a claim. To initiate a claim against your fire insurance policy with Tata AIG, click here.

Provide the necessary details

Provide us with a detailed account of the damaged property and their estimated equivalent costs. Take sufficient pictures and videos of the damage wherever possible.

Property Survey

We will send a surveyor ASAP to your property to assess the extent of the damage. Provide them with any kind of assistance or additional information they require to speed up the claim filing process.

Additional optional Coverage in Fire Insurance

Enhance the protection under your fire insurance policy with the following add-on covers available with Tata AIG. Keep in mind that these additional optional covers will appear in your policy schedule only if you opt for them after paying an additional premium.
Here are some add-on covers you can opt for, to enhance coverage under your fire and burglary insurance:

Floater Cover
Covers physical loss or damage to stocks at more than one location.

Declaration Policy for Stocks
Covers stock on receipt of provisional premium based on the declaration of the value of the stock.

Omission to Insure, Additions, Alterations or Extensions
Coverage for buildings and/or machinery, plant, and other contents as defined, which you erect or acquire or become responsible for, up to a limit of 10% of the total sum insured.

Escalation Clause
Covers automatic regular increase in the sum insured throughout the period of the policy in return for an additional premium to be paid in advance.

Accidental Damage Cover
Covers accidental loss or damage to the property by any external, visible, and violent means.

Involuntary Betterment
Covers cost incurred to replace damaged property wherein the like, kind, and quality are not obtainable due to technological obsolescence or statutory or regulatory requirements, with one which is capable of performing the same function.

Rent Insurance
Covers additional rent incurred by you for alternate premises in the event of damage to the insured property by an insured peril.

Protection and Preservation of Property
Covers reasonable and necessary costs incurred for actions to temporarily protect or preserve insured property, provided such actions are necessary due to actual or to prevent immediately impending, insured physical loss or damage to such insured property.

Contract Works
Covers permanent works and temporary works erected or in the course of erection in performance of the contract and the materials and all other property of whatsoever nature or description for incorporation therein.

New Location Cover
Covers the property at a new location which is acquired by you. The property will be automatically covered for a period of up to 15 days from the date of acquisition.

Brands and Trademarks
Covers loss or damage to the branded or labelled property insured in the event of loss or damage by an insured peril to the goods bearing a brand or trademark. The salvage value of such damaged goods will belong to the insurer and shall be determined after removal in the customary manner of all such brands or trademarks.

Electrical Injury
Covers any loss or damage by fire to the electrical appliance and installation insured under the policy, arising from or occasioned by overrunning, excessive pressure, short circuit, arcing, self-heating, or leakage of electricity.

Terrorism Damage
Covers physical loss or physical damage occurring during the period of the policy caused by an act of sabotage and/ or terrorism to the locations mentioned, subject to the exclusions, limits and excess.

Eligibility Criteria to buy Fire and Burglary Insurance Policy

The following categories of people or organisations can buy fire and burglary insurance:

Any individual, organisation, institution, or firm that needs to protect their business financially from the damages and losses due to fire and burglary.
Any person who owns a building, furniture, household articles, etc.
Retail store owners or godown keepers.
Owners of banks, or financial, education, or research institutes, etc.
Owners of medical clinics, restaurant and hotel owners, service suppliers, lodging, medical stores, etc.
Owners of manufacturing and industrial firms and transporters.

Other types of Insurance

Fire and Burglary

This is a fire insurance policy with a burglary cover. It offers coverage for loss or damage to the contents caused by fire and allied perils and burglary/housebreaking or hold-up. Under this combination, you can expect coverage for Damages to the contents and/or premises as described in the policy terms.

Fire and Burglary + Money Insurance

Money here implies cash, coins, bank and currency notes, including foreign currency, bank drafts, cheques, money orders, stock, share certificates, and other assets of monetary value. Under this combination, we offer covers for three types of money insurance:

Money in Safe

Loss of money belonging to the business of the insured (you) within the insured premises (as stated under your policy terms) caused by burglary, robbery, housebreaking, theft, or hold-up.
Loss of money belonging to the business of the insured (you), while kept at the owner/ director/ proprietor's permanent place of residence, which lies within the geographical area, necessitated only by bank/ government holiday.
This money would otherwise be kept in any safe, strong room or cash box securing money within the insured premises. This cover is valid for up to 24 hours from the time of withdrawal from the bank.
Reimbursements for repairs costs for safes, strong rooms, or cash boxes securing the money damaged during a covered incident up to 5% of the admissible claim.

Money in Transit

We will cover losses of money belonging to the business of the insured (you) caused by burglary, robbery, theft, or any other cause while the money is in transit between either:

The named business premises of the insured and/or,
The named business premises of the insured and the premises of the insured’s bankers and/or,
The locations or situations specified in the policy’s terms.

Money at Hand/Till/Counter

Loss of money in the till and/or counter incurred during hold-up or robbery during business hours at the insured premises.
Repair costs for the till and/or counter securing the money, which is payable up to 5% of an admissible claim subject to liability being admitted by the insurance company.

Fire and Burglary + Public Liability

In addition to Fire and Burglary cover, Public Liability cover is an important cover that if opted, will ensure that we will indemnify you against your legal liability to pay compensation including Claimant’s costs, fees, and expenses anywhere in India, in accordance with Indian Law and as per limits of liability opted under this cover.
This cover applies to claims arising out of accidents occurring in your insured premises during the period of insurance.
You will be indemnified for liability arising out of injury and / or Damage but only against claims arising out of or in connection with the business specified in the Policy.

Additional Covers Applicable to Separate Sections Under Your Policy Schedule

Public Liability

Optional coverage under this section includes:

Food and Beverages Extension
Other Facilities Extension (Name of the Facilities, as Mentioned in Schedule)
Valuables Under Care, Custody and Control Extension
Acts of God Perils Extension

Plate Glass

It covers Accidental Damage to Plate glass. Additionally, it can extend to cover cost of repairing and reinstating frames and/or framework by any cause not excluded under the policy. Repair or reinstatement of the plate glass is subject to a maximum payment of ₹5,000 or as specified in the policy Schedule for each and every claim.

All Risk

It covers Repair and/or Replacement cost of portable equipment’s like Laptops, tablets, Mobile Phones or any other equipment belonging to the Business of the Insured, arising out of any unforeseen physical loss or damage from any cause other than those excluded. It can be extended to cover:
A reinstatement value cover in the event of partial and total loss.

Under partial loss, we cover the amount of depreciation deducted on the value of parts with limited life as provided under the basis of claim payment.
Under total loss, we cover the reinstatement/replacement value of the item. This includes costs for ordinary freight, erection and customs duties if any, provided such expenses have been included in the sum insured. The Company will also pay any normal charges for the dismantling of the destroyed machinery - but the salvage will be taken into account.

Burglary

Theft coverage can be opted as addon in Burglary cover. Theft here means the intention of taking movable property dishonestly, without actual forcible and violent entry of or exit from the premises by the person(s) committing the act.

Consequential Loss (Fire)

This section provides coverage for losses due to the interruption or interference of the business carried on, on the insured premises as the result of a fire.
This means coverage for reduction or loss resulting from cessation, interruption, interference or inhabitation to the business due to physical destruction or damage to property belonging to the insured that prevents access to the premises.

Electronic Equipment

It covers loss or damage to electronic equipment’s used by your business from any cause, other than those specifically excluded, in a manner necessitating repair or Replacement. Policy can be extended to cover:

Omission to insure additions, alterations, or extensions. This extension shall not exceed 5% of the sum insured by items mentioned in the schedule.
You must also notify us of each additional insurance as soon as it comes to your knowledge and have to pay the appropriate additional premium thereon from the date of inception.

Neon Sign

It Covers repair or replacement cost due to accidental physical loss or damage to neon sign fixed at insured premises from any cause other than those specifically excluded under the policy. It can be extended to include third-party liability.

Selecting Sum Insured for Fire and Burglary Insurance

Selecting an appropriate sum insured is essential when buying fire insurance. Choosing an unnecessarily high sum assured results in an excessively high premium. On the other hand, choosing a lower amount than your requirement will leave you with insufficient financial support in case of a mishap.
To select the correct sum assured for your Tata AIG fire and burglary insurance plan, consider the following:

Stock

Building

Plant and machinery

Furniture

Other important personal items

Who Needs a Fire and Burglary Insurance

Fire and burglary are sudden and unpredictable, and in most cases, they result in loss and damage extending beyond the value of only the damaged or stolen goods.
Therefore, an appropriate fire and burglary insurance plan is suitable for a wide category of people, including home and business owners. If you belong to one or more of the following categories, consider securing your property against fire, housebreaking, and burglary:

Home Owners
No matter how big or small, your house is undoubtedly one of your most valuable possessions. So, it makes sense to secure your dream abode against unpleasant incidents like fire, break-ins, and burglaries.

Renters
It is a common misconception that fire and burglary insurance is only for homeowners. However, even if you have rented a house, you may have expensive appliances, gadgets, and other possessions. With Tata AIG, you can insure only what you own in a rented property and secure yourself against probable losses.

Small Business Owners
It takes extensive effort and considerable finances to set up even a small business. Therefore, if you run a small independent business like a grocery store or a salon, you can protect it for a reasonable premium against fire, burglary, and similar damages with our fire and burglary insurance policy.

Medium Business Owners
Our fire and burglary insurance policy is suitable for medium-sized businesses also, like a chain of restaurants or apparel stores. You can insure your businesses against minor or major damages due to unexpected and unpleasant fire and burglary incidents.

Large Business Owners
Large business owners may have multiple properties to support their business operations. The stakes are high for such a large scale of operations, and even a small damage can result in significant losses.

With our fire and burglary insurance policy, you can secure all your properties and reduce the risk of loss or damage.