TATA AIG Standard Fire and Special Perils Cover


Introduction:

Standard Fire Home Insurance provides coverage against fire and some special perils.

Eligibility:

  • Person residing in a self-owned or rented house.

Policy Details:

  • Covers buildings under RCC construction.

Policy Benefits:

  • Covers against Fire/Lightning, Explosion/Implosion, Damage due to aircraft, Riot, Strike and Malicious damage, missile testing operations, bush fire, overflowing of water tanks, inundation, landslides/flood/storm, earthquake etc.
  • Fixation of sum insured: Covers the cost of reconstruction not including the value of land. Building value should be related to the present day cost of reconstruction however contents should be insured for their market value.

General Exclusions

The policy doesn’t cover if loss/damage caused due to-

  • War, invastion, act of foreign enemy hostilities, civil war, civil commotion
  • Loss/damage caused to the insured property by pollution
  • Loss or destruction to the stocks in cold storage premises
  • Loss/damage caused due to electrical machine, fixture or fitting arising from over-running, excessive pressure, short circuiting, etc.