Is Arson Covered under Factory Fire Insurance?

Arson poses a significant threat to manufacturing facilities, involving the deliberate act of setting fire to property with malicious intent. Arson incidents can lead to devastating fires, causing extensive damage to physical structures, machinery and valuable assets.

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What is Arson?

Arson is the criminal act of deliberately and intentionally setting fire to property, buildings or structures with the intent to cause damage, destruction, or harm. Arson is a serious offense that poses significant risks to life, property and public safety.

Types of Factories Vulnerable to Arson

Certain types of manufacturing facilities are more vulnerable to arson due to the nature of their operations and the presence of specific materials. Facilities that deal with flammable substances, chemicals, or storage of large quantities of materials may be at higher risk. Additionally, manufacturing units in isolated or less secure areas could be more susceptible to arson attacks.

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Common Motives Behind Arson Incidents

Arson incidents in factories can be motivated by various factors, including;

  • Economic motives, such as insurance fraud or financial distress
  • Revenge or vandalism
  • Environmental activism or terrorism

Is Arson Covered Under Factory Fire Insurance?

No, Arson is typically not covered under fire insurance. Fire insurance policies are designed to cover accidental and unforeseen events, such as fires caused by electrical faults, gas leaks, etc. Arson, on the other hand, is seen as an intentional act and any harm or damage deliberately caused to the property is not covered under fire insurance.

Conclusion

While fire insurance is a valuable safeguard against unforeseen events and accidental damages, it is crucial for policyholders to recognize the limits of coverage. Intentional acts such as arson are not covered under standard fire insurance policies, as insurers aim to prevent fraud and discourage criminal activities. Remember, responsible and ethical behaviour not only upholds the principles of insurance but also contributes to a safer and more secure community for everyone.

Written By: PolicyBazaar - Updated: 02 February 2024
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Policybazaar for Business - Fire Special Perils Insurance - Customer 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