Fire Insurance for Non-hazardous Good Store

Fire insurance for Non-hazardous goods store provides financial coverage to the storage owner in case of unforeseen damages caused to the stored goods as well as the storage place. Insurance companies provide policies as per the cost of stored items as well as the physical damage caused to the building.

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Importance of Fire Insurance for Non-hazardous Goods Store

Purchasing fire insurance for Non-hazardous goods store is important as it provides financial coverage for the loss or damage caused to the stored goods as well as the storage building. It provides cover for both movable and immovable goods. Apart from this, loss or damage caused due to natural calamity, bursting of water tank, explosions, etc. is also covered.

Coverage under Fire Insurance for Non-hazardous Goods Store

Fire insurance for Non-hazardous good store provides coverage for the following:

  • Loss or damage caused due to fire, fermentation, natural heating are covered
  • Loss or damage caused due to lightning that could cause crack in the roof of the storage building
  • Loss or damage caused due to explosion
  • Loss or damage caused due to terrorist attack, riots or strike is covered
  • Loss or damage caused due to natural calamity
  • Bursting and overflowing or water tank that could cause damage to the goods

Exclusions under Fire Insurance for Non-hazardous Good Store

Fire insurance for Non-hazardous goods store does not provide cover for the following:

  • If the insured wilfully or intentionally set fire or damages the stored goods
  • Damage caused due to war, invasion, etc.
  • Missing property is not covered
  • Consequential loss is not covered
  • If the items are stored in cold-storage and get damaged to due temperature change then they are not covered
  • If the storage building remains unoccupied for more than 90 days then any loss or damage caused to the items or building is not covered
  • Any kind of expensive art work, precious stone or bullion unless specifically declared are not covered
  • In case the damage to the electric machines or damage happens due to leakage of electricity

Fire Insurance for Non-hazardous Goods Store: Claim Process

Follow the below mentioned steps to raise claim under Fire Insurance for Non-hazardous goods storage:

  • Step 1: Inform the insurer
  • Step 2: Calculate the estimated damage of the goods¬†
  • Step 3: The insurer will send a surveyor to inspect the damage caused
  • Step 4: It is suggested to assist the surveyor during the visit and answer his questions best to your knowledge
  • Step 5: The insurer will settle the claim within the time specified in the policy

Documents Required to Raise the Claim under Fire Insurance for Non-hazardous Goods Store

Here are the following documents that you need to submit along with the insurance claim form to raise the claim:

  • Copy of the policy
  • Properly filled form
  • Any kind of substantial proof such as news report, newspaper cutting, etc.
  • Previous claim records
  • Fire brigade report
  • Forensic report, if required
  • Copy of final investigation report
Written By: PolicyBazaar - Updated: 12 January 2023
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Policybazaar for Business - Fire Special Perils Insurance - Customer Reviews
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4.3/5
Based on 83 reviews
4.3
out of 5
Based on 83 reviews
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4.8 October 09, 2022
Aaftab
Amazing Customer Support
I am using a fire insurance policy from policybazaar and experienced amazing feedback from them in claim settlement. I have a sports merchandise shop that caught fire last yearI raised a claim which was resolved within a few days without any hassles.
Thiruvananthapuram
4.8 October 08, 2022
Balachandar
Helpful Support
The support team of Policybazaar is really helpful and prompt. They solve all your queries fast. Would definitely recommend Policybazaar for purchasing insurance .
Mangaluru
4.8 October 07, 2022
Raahim
Extensive Cover
Got a fire insurance policy for my shop and it was really extensive with so many features. Purchased it from Policybazaar without paying any commission fees. Great coverage.
Bengaluru
4.5 October 06, 2022
Aadi
User Friendly Website
We deal in the cotton industry and suffered a huge loss last year because of the fire. We were looking for insurance to safeguard us financially from any such incident in the future. We landed on the policybazaar website and bought fire insurance. Their website is well managed and gives all the necessary information.
MP
4.8 October 05, 2022
Rohit
Plans Are In Budget
Had to purchase a fire insurance which should be in my budget as I run a very small store. Got a lot of affordable plans on Policybazaar and purchased the one that suited my budget. All plans are in budget and with so many features.
Bhopal
4.3 October 04, 2022
Baban
Covered My Shop
I have a shop of garments and it caught fire last year in which I lost items worth thousands. Purchased a fire insurance from Policybazaar and now I feel really relieved that it would financially cover my shop in such circumstances.
Chandigarh
4.3 October 03, 2022
Aarnav
Faster Claim Settlement
A part of my warehouse having thousands of material caught fire. Luckily I had a fire insurance policy that I could claim and received compensation from them. It was such a relief. The claim settlement team at Policybazaar is helpful and really quick.
Assam
4.5 October 02, 2022
Jagadish
Affordable
I have a warehouse of clothes and was planning to buy a fire insurance policy to cover my material from unwanted fire. Got a really affordable plan from Policybazaar with some really great features.
Ahemdabad
4.5 October 01, 2022
Rahul
Budget Friendly
Wanted to cover my crockery shop from fire and was searching for an affordable plan. Found a great plan at Policybazaar which suited my budget.
Surat
4.5 September 30, 2022
Baabul
Instant Purchase
Wanted a fire insurance policy for my crockery business and could purchase it instantly from Policybazaar. The process was quick instant and very easy.
Gurgaon