Fire insurance provides protection to cover your home structure against damage and provides the financial resources to replace or repair damage so that you may return to normal as soon as possible. This policy is similar to the All Risk Buildings Insurance policy, but contains some limitations in cover.
Most insurers that offer fire insurance have a standard cover plan and a comprehensive cover plan which costs more and provides greater scope of insurance in the policy.
What is covered under a standard Fire insurance policy?
- Fire and lightning
- Typhoons, windstorms and floods
- Landslides and subsidence
What is covered under a comprehensive Fire Insurance policy?
- All perils listed in the Standard Cover plus...
- Damage caused by aircraft
- Vehicle impacts from a third party vehicle
- Riots or strikes
- Malicious damage (vandalism)
- Burst (or overflow of) water tanks, pipes, or apparatus
What is not covered?
- Fire or explosions that result from an earthquake, volcanic eruption.
- War, rebellion, or revolution
- Ionising radiation, or radioactivity
- Theft after or during a fire
- Damage to electronics
- Damage to property that is covered by another policy
- Consequential loss or damage of any kind
Since Fire insurance is generally intended for the structure only, it is priced more competitively priced than the standard All Risk Building policy. It is not intended to cover the contents of the home or provide personal liability.
Speak to your Trusted Union insurance broker to make sure this type of cover is adequate to meet your individual needs.