Large corporate, which have a multi-location, multi-business presence, need to protect their operations. Insurance is an essential tool to protect yourself against losses that could devastate your business. The Reliance Standard Fire and Special Perils Policy offers the corporate, coverage against Industrial/manufacturing risks like fire, lightening, explosions and also covers property located outside the compound of Industrial/ Manufacturing risks. The policy offers a combination of standard and optional features so that they can choose the cover that’s most appropriate.
Property that can be covered under this policy includes
Industrial or manufacturing risks
Property located outside the compounds of industrial or manufacturing risks, namely
- Dwellings, offices, hotels, shops, etc.
- Storage risks
- Tank farms/gas holders
Architects, surveyors and consulting engineers
This policy can be customized as per business needs. The following covers are available at an extra premium:
Omission to insure additions, alterations or extensions,Spoilage material damage,Leakage and contamination,Temporary removal of stocks clause,Loss of rent clause Additional expenses towards rent for an alternative accommodation,Start–up expenses, Molten metal spillage,
You can also choose from the following three variants:
Floater Policy: Appropriate for stocks at various locations under a single sum insured
Declaration Policy: Takes care of frequent fluctuations in stock/stock values
Floater Declaration Policy: Combines the features of both floater and declaration policies