Fire Insurance for Restaurants

When you start building a restaurant, as a safety measure you have to install smoke detectors, fire alarms, water sprinklers, etc. When you opt for an insurance policy, the insurer note down these things and you get benefits like lesser premium rates because these safety measures decrease the chances of any severe damages and loss hence lesser chances of raising a claim. Since we are here to tell you about the fire insurance for restaurants. Let us begin with it.

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Tax benefit is subject to changes in tax laws. *Standard T&C Apply

**Discount is offered by the insurance company as approved by IRDAI for the product under File & Use guidelines

Get ₹50 Lakh cover only @ ₹280/month*

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Important Things to Know About Fire Insurance for Restaurants

There are certain things that you should keep in mind while purchasing this insurance policy.

You’ll have to be crystal clear with the insurer about the things he/she asks you while purchasing the policy.
The policy comes with a tenure of 1 year and it can be renewed.
While purchasing the policy for a restaurant, you should provide every required detail related to the contents of the restaurant. The cover will be provided based on the content of the restaurant as well as the location.

Inclusions & Exclusions in Fire Insurance for Restaurants

Inclusions	Exclusions
Damage or loss caused by fire is covered.	Keeping nuclear perils inside the restaurant that causes damage is not covered.
Damage or loss caused by lightning that breaks the roof of the restaurant is covered.	Damage caused by short circuits and apparatus will not be covered.
Loss or damage caused due to airplane crash or any article dropped out of it that damages the restaurant is covered.	Any damage or loss caused due to war or civil war will not be covered.
Loss or damage due to any terrorist attack is covered.	Any loss or damage caused to the stored food item or anything due to change in temperature will not be covered.
Loss or damage caused by bush fire around the restaurant is covered.	Any loss caused by volcano or earthquake will not be provided. Policyholder will have to add-on riders for extra cover like earthquakes.
The water tank burst and water overflow causing damage to the restaurant is covered.	Loss caused by market fluctuation will not be covered.
Damage or loss caused by storms, landslide, etc is covered under the policy.	No cover will be provided for any stolen item but there are add-ons available to purchase that will provide cover for stolen items as well.
In case of an explosion, insurer will provide cover for damage.	The policyholder will not get cover for anything that’s not mentioned in a particular plan.

Fire Insurance for Restaurants: Add-ons

If you feel that the standard fire insurance policy is not enough to cover your restaurant then there are several add-ons available that you can add to your existing plan. They are as follows:

Forest Fire
Architects fee
Leakage cover
Loss of rent
Contamination cover

You can ask your insurer for more add-ons that can provide extra cover as the availability depends on the company.

Fire Insurance for Restaurants: Claim Process

As we have told you almost everything about the policy, let us now tell you about the most important part that is raising the claim. So here are the steps that you can follow to raise a claim:

Contact your insurer and inform about the fire accident
Provide all kinds of details related to the loss or damage caused by the fire and the estimated cost of it
Cooperate with the inspectors who will come to do a survey of the restaurant
After the survey, insurer will initiate the claiming process
After a few days, your claim will be settled.