Fire Insurance for Garment Manufacturers
Fire Insurance for Garment Manufacturers provides coverage against loss or damage caused due to garment manufacturing plants due to fire accidents. The insurance plan also provides coverage for the loss or damage caused to the content that is specified in the plan.Read more
Get ₹50 Lakhs Fire & Burglary insurance @ just ₹3400/yearly*
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*Premium varies on the basis of Occupancy, Business Activity & Coverage Type
Fire Insurance for Garment Manufacturers: Inclusions
The Insurance for Garment Manufacturers provides coverage for the following perils:
- Fire: Coverage for damages caused due to a fire accident.
- Explosion: Damage caused due to any kind of explosion that leads to a fire incident.
- Lightning: Coverage against damage caused due to lightning.
- Damage by Aircraft: If an aircraft crashes or drops anything during a flight that damages the structure of the manufacturing plant.
- Natural Calamity: Damages caused due to storms, cyclones, typhoons, etc.
- Overflowing of Water Tank: In case the water tank kept on the roof of the manufacturing plant bursts out and damages the structure of the plant or the covered specified content in the plan.
- Bush Fire: In case of a bush fire, the damages caused will be covered.
Fire Insurance for Garment Manufacturers: Exclusions
The insurance policy for garment manufacturers does not provide cover for the following perils:
- Willful or intentional damage is not covered
- Damage caused due to pollution or contamination
- Any kind of damage caused to the electrical machines is not covered
- Damage caused due to terrorist attacks is not covered
- Any damage caused due to nuclear peril or attack is not covered
- Loss caused to the policyholder in the share market is not covered.
Fire Insurance for Garment Manufacturers: Claim Process
In order to raise a claim under this insurance policy, follow the steps given below:
- Inform the insurer as soon as the fire accident takes place.
- Call the fire brigade to extinguish the fire
- The insurer will send an inspector to inspect the damaged premises
- Stay with the inspector and tells him/her everything they want to know
- Give a detailed account of the damaged perils
- Provide an estimated amount of the damage caused
- Once the inspection is done, the inspector informs the insurance company.
- The company begins the process of claim settlement from its end and settles the claim within the specified number of days.
Documents Required to File Claim
To raise the claim under this fire insurance plan, you will have to provide the following set of documents to the insurer:
- Policy copy with schedule and included clauses
- Filled claim form
- If the incident gets published in a newspaper then attach the newspaper cutting as well
- FIR, if any
- Previous claims, if any
- The report provided by the fire brigade
- Any other documents required by the insurer
Fire Insurance for Garment Manufacturers: FAQs
Q1. Is it necessary to provide the Fire brigade report to the insurer along with the claim form?Ans: If you had to call the fire brigade to extinguish the fire then you must provide the report given by the fire brigade department along with the claim form.
Q2. Will the fire insurance for garment manufacturers provide coverage for any damage caused to the machines kept inside the plant?Ans: No, the fire insurance will not provide coverage for any loss or damage caused to the machines kept inside the manufacturing plant.
Q3. Do I need to purchase a different insurance plan to cover the machines kept inside the garment manufacturing plant?Ans: Yes, you will have to purchase a Construction all risk insurance plan to cover the machines kept inside the garment manufacturing plant as the fire insurance will not provide coverage for the damage caused to the machines.