Fire and Special Perils

Chola MS Fire & Special Perils policy compensates for the loss of property due to the following perils:

  • Fire
  • Lightning
  • Explosion / implosion
  • Aircraft damage
  • Riot, strike and malicious damage
  • Storm, cyclone, typhoon, tempest, hurricane, tornado, flood and inundation
  • Impact damage
  • Subsidence and landslide (including rock slide)
  • Bursting and / or overflowing of water tanks, apparatus and pipes
  • Missile-testing operations
  • Leakage from automatic sprinkler installations
  • Bush fire
  • Earthquake (this is an optional cover available on request)

Please refer to the Policy Wordings for the complete coverages, exclusions and terms and conditions of the policy.

Additional Expenses Covered: 

  • The policy automatically covers the following expenses incurred following loss / damage / destruction of a covered property as a result of the operation of an insured peril.
  • Architects, Surveyors and Consulting Engineers' Fees upto 3 % of the claim amount. 
  • Expenses incurred for removal of debris to clear the site upto 1 % of the claim amount. 

What can be insured

  • All immovable and movable property excluding land such as buildings, plant and machinery, furniture, fixtures, fittings and other contents, stocks and stock in process.
  • Building (including plinth and foundations, if required): Whether completed or in course of construction (excluding the value of land). 
  • Interiors, Partitions and Electricals. 
  • Plant & Machinery, Equipments & Accessories (including foundations, if required)
  • Stocks: Raw Material Finished Goods In process In trade belonging to Wholesaler, Manufacturer and Retailer. 

Other Contents such as

  • Furniture, Fixtures and Fittings 
  • Cables, Pipings 
  • Spares, Tools and Stores 
  • Household goods etc. 

What are the occupancies that can be insured 

  • Residences, offices, shops, showrooms, hotels, restaurants, schools, colleges, hospitals, clinics, auditoriums etc located outside the compound of industrial risks;
  • Factories viz industrial and manufacturing risks
  • Godowns, Storages in Open, Storages in Tanks, Gas holders located outside the compound of industrial risks
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