This type of Industrial Fire insurance offers the most comprehensive cover to your business.
The basic fire industrial policy provides indemnity against loss or damage to property described, caused by fire, lightning and explosion. However, depending on the insurance company the policy can also be extended to cover riots, strike, malicious damage, storm, earthquake, impact by vehicles, aircraft and other aerial devices, subterranean fire, spontaneous combustion, explosion of industrial boilers and economizers, flooding, water damage due to bursting or overflowing of water tanks, apparatus, and pipes among others.
This insurance covers assets such as buildings, plant and machinery, stock insurance, furniture fixtures and fittings and office equipment.
Generally, the fire insurance policy is normally broken down into four areas. One is the insuring agreement. The second are the definitions. The third would be exclusions, and the fourth would be conditions. Almost every fire policy has four areas of coverage.
Fire industrial package is a very important coverage in case your property is destroyed or significantly impaired by a fire.