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The devastating effects of a fire to property or business are huge. Also, natural perils such as floods and earthquakes have dire effects to one’s financial standing. To compensate for such losses, a Fire and Allied Perils Insurance policy is key to cover movable and immovable property.

Fire and Allied Perils Cover is an insurance contract that safeguards the insured against unforeseen losses caused by accidental fire, explosion as well as natural perils like floods, earthquakes to mention but a few. This cover is an integral part of property insurance that helps protect your residential, industrial properties or commercial properties such as apartment buildings, office spaces, shops, and factories.

Such as buildings, furniture fixtures and fittings as well as all other contents contained in the building, resulting from fire, flood, earthquake and other catastrophe perils as well as all other contents contained in the building, resulting from fire, flood, earthquake and other catastrophe perils.

This provides cover for loss or damage to property, caused by fire or lightning.It is necessary to understand the exact meaning of the word ‘fire’ as used in insurance parlance. A ‘fire’ as covered under a Fire Policy, is said to have occurred when the following conditions are satisfied:

• There is actual ignition of property.
• There must be something on fire which ought not to have been on fire.
• The fire must have occurred under accidental circumstances, so far as the insured is concerned.

Once a ‘fire’ as meant by the policy has occurred, certain other types of losses automatically come within the scope of the Fire Policy:

• Damage during or immediately following a fire caused by smoke, scorching, falling walls.
• Damage caused by the fire brigades in the discharge of their duties.
• Damage to property incurred by exposure to weather caused as a result of removal of property from a burning building in an effort to mitigate the loss.