Fire and Allied Perils Insurance is a type of property insurance that covers damage to property caused by fire and other allied perils. Here are some key aspects of this type of insurance:

What is Covered

1. Fire: Damage caused by fire, including explosions and implosions.

2. Allied Perils: Damage caused by other perils such as:

    - Lightning

    - Storm

    - Cyclone

    - Flood

    - Earthquake

    - Landslide

    - Riot and strike

    - Malicious damage

    - Aircraft damage

Benefits

1. Financial Protection: Covers financial losses due to damage or destruction of property.

2. Business Interruption: Covers loss of business income due to interruption caused by insured perils.

3. Rebuilding and Repair: Covers costs of rebuilding or repairing damaged property.

Exclusions

1. War and Nuclear Risks: Damage caused by war, nuclear explosion, or radiation.

2. Pollution: Damage caused by pollution or contamination.

3. Gradual Damage: Damage caused by gradual deterioration or wear and tear.

Who Can Buy

1. Individuals: Homeowners, tenants, or landlords.

2. Businesses: Commercial establishments, industries, or institutions.

How to Buy

1. Insurance Companies: Purchase from licensed insurance companies in India.

2. Insurance Brokers: Buy through licensed insurance brokers.

3. Online Platforms: Purchase online through insurance company websites or aggregators.

Important Considerations

1. Sum Insured: Ensure adequate sum insured to cover the value of the property.

2. Policy Terms: Understand policy terms, conditions, and exclusions.

3. Premium Payment: Pay premiums on time to avoid policy lapse.