General Insurance also known as Non-Life insurance, is a contract where the insurer (insurance company) promises to compensate the insured in the event that there is a loss /damage to property or against liability. General insurance typically covers any insurance other than life.
Fire and Perils Insurance
The basic fire and perils insurance covers loss or damage to property caused by fire, lighting or explosion. The cover can also be extended to cover riots, strike, malicious damage, storm, earthquake, impact by vehicles, aircraft or other aerial devices, subterranean fire, spontaneous combustion or overflowing water from tanks and pipes.Fire and Perils Insurance
The basic fire and perils insurance covers loss or damage to property caused by fire, lighting or explosion. The cover can also be extended to cover riots, strike, malicious damage, storm, earthquake, impact by vehicles, aircraft or other aerial devices, subterranean fire, spontaneous combustion or overflowing water from tanks and pipes.
This insurance covers assets such as buildings, plant and machinery, stock insurance, office equipment, furniture, fixtures and fittings.
Business Interruption Insurance
This policy provides cover for loss of profits caused by reduction or interruption of production due to damage caused by fire and allied perils to the insured’s premises. Allied perils are perils such as earthquake, flood, explosion, malicious damage that are insured in addition to fire at additional premium.Business Interruption Insurance
Business Interruption Insurance is taken together with fire insurance to ensure both the business and the assets/materials are covered. Both covers have to be valid for a claim to be settled.
Business Interruption insurance covers loss of Gross Profits, wages that are paid while production is interrupted and auditors fees incurred in preparation of the claim
Burglary or Theft Insurance
Burglary or theft insurance covers loss or damage of insured property because of theft accompanied by visible, forcible and violent entry into, or exit out of the insured premises.Burglary or Theft Insurance
Burglary or theft insurance covers loss or damage of insured property because of theft accompanied by visible, forcible and violent entry into, or exit out of the insured premises.
The policy extends to cover damage to the doors, windows, walls and roof by intruders in their attempt to gain entry and exit. As well as damage to the contents in the event of an attempted break-in to the premises.