National Standard Fire and Special Perils

Founded in Kolkata on December 5, 1906, the National Insurance Company Limited holds the distinction of being India's oldest general insurance company. Originally inspired by the nationalist spirit for Swaraj, the company underwent a merger in 1972 as part of the General Insurance Business Nationalisation Act. In 2002, it attained autonomy, becoming an independent insurance company and severing ties with its holding company, GIC. With a robust presence, National Insurance operates from 1,730 offices across India, including a foreign office in Nepal. The company's strength is further bolstered by a dedicated workforce of over 13,000 skilled employees and a vast network of 50,000 agents.

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National Standard Fire and Special Perils: Inclusions

The Standard Fire and Special Perils Policy provided by National Insurance Company Limited. covers the following:

  • Fire: Coverage for damage caused by fire, including destruction and charring.
  • Lightning: Protection against damages resulting from lightning strikes.
  • Explosion / Implosion: Coverage for losses due to explosions or implosions, safeguarding against sudden and violent events.
  • Aircraft Damage: Protection from damages caused by the impact of aircraft.
  • Riot, Strike, Malicious, and Terrorism Damage (RSMTD Perils): Safeguarding against losses resulting from riots, strikes, malicious acts, and terrorism, providing coverage for damages caused by intentional harm.
  • Storm, Tempest, Flood, Inundation, Hurricane, Cyclone, Typhoon and Tornado: Comprehensive coverage for damages caused by various atmospheric disturbances, including storms, floods, hurricanes, cyclones, typhoons, and tornados.
  • Impact by any Rail/Road Vehicle or Animal: Protection against damages caused by the impact of vehicles or animals.
  • Subsidence / Landslide including Rockslide: Coverage for losses resulting from subsidence, landslides, or rockslides, providing financial protection against ground movement.
  • Bursting and/or Overflowing of Water Tanks, Apparatus: Safeguarding against damages caused by the bursting or overflowing of water tanks or related apparatus.
  • Leakage from Automatic Sprinkler Installation: Protection for damages caused by leaks from automatic sprinkler systems.
  • Missile Testing Operation: Coverage for losses resulting from missile testing operations.
  • Pollution or Contamination Resulting from Any of the Above Perils: Comprehensive coverage for damages caused by pollution or contamination resulting from covered perils.
  • Any Insured Peril Resulting from Pollution and Contamination: Extending coverage to include damages resulting from pollution and contamination associated with insured perils.
  • Bush Fire: Protection against damages caused by bush fires, including the destruction of property in affected areas.

National Standard Fire and Special Perils: Exclusions

National Standard Fire and Special Perils does not provide coverage for the following:

  • For each claim arising from Lightning, STFI, Subsidence, Landslide, including Rockslide, the liability is limited to 5% of the claim amount, with a minimum of Rs. 10,000. For all other perils, the minimum liability is Rs. 10,000.
  • Expenses incurred on Architects, Surveyors, Consultant Engineers' fees, and Debris Removal exceeding 3% and 1% of the claim amount, respectively, will not be covered.
  • Loss of earnings, loss by delay, loss of market, or any other consequential or indirect loss or damage of any kind is not covered.

Perils not covered:

  • War and allied perils.
  • Ionizing radiations and contamination by radioactivity.
  • Pollution or Contamination.

Properties not covered

  • Items like manuscripts, etc., unless specifically declared.
  • Cold storage stocks due to changes in temperature.
  • Loss/damage/destruction of any electrical or electronic machine, apparatus, fixture, or fitting arising from overrunning, excessive pressure, short-circuiting, arcing, self-heating, or leakage of electricity, regardless of the cause, including lightning.
  • Loss/damage/destruction of Boilers, Economisers, or other Vessels in which steam is generated, machinery, or apparatus subject to Centrifugal force, by its explosion/implosion.
  • This insurance does not cover loss or damage directly or indirectly caused by, arising from, in consequence of, or contributed to by ionizing radiations or contamination by radioactivity from any nuclear fuel, nuclear waste, combustion of nuclear fuel, or any nuclear weapons or materials. For the purpose of this exclusion, combustion includes any self-sustaining process of nuclear fusion.
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National Standard Fire and Special Perils Policy: FAQs

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Policybazaar for Business - Fire Special Perils Insurance - Customer Reviews
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Based on 83 reviews
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Based on 83 reviews
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4.8 October 09, 2022
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.
4.8 October 08, 2022
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 .
4.8 October 07, 2022
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.
4.5 October 06, 2022
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.
4.8 October 05, 2022
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.
4.3 October 04, 2022
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.
4.3 October 03, 2022
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.
4.5 October 02, 2022
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.
4.5 October 01, 2022
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.
4.5 September 30, 2022
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.