Buy Fire & Burglary Insurance

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  • Provides complete peace of mind to the owners of any individual, firm or corporate properties.
  • Saves the Balance Sheet and Business entity from Bankruptcy.
  • Instant Policy Issuance & Management
  • Quick claim processing, support and advice for compliance to the Surveyors/Insurers.
  • Competitive pricing depending on S.I., Risk Occupancy and ICR
  • Customized plansAffordable prices
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What is Fire Insurance?

Fire insurance is a kind of property insurance. People or businesses can buy it to protect their buildings or places from damage caused by fire. This can include your home, office, or any place where you do business. In simple words, it is an agreement between you and the insurance company. The company promises to pay you money if your property gets damaged by fire.

What is Burglary Insurance?

Burglary insurance helps protect your property. It covers damage or loss to your home, office, factory, or storage place if someone breaks in or steals. It covers things like:

  • Theft when someone breaks in by force or violence.
  • Tried theft or actual theft by a criminal at your place.
  • Armed robbery or hold-up.

Importance of Fire Insurance

  • Saves You from Big Money Losses Running a business without insurance can be risky. Accidents like fires or natural disasters can destroy your goods and property. Without insurance, you'll have to pay for everything yourself, which can be very expensive. Fire insurance helps cover these costs so you don't lose all your money.
  • Pays for Property Damage If a fire happens, fire insurance pays for fixing or replacing damaged items. This includes buildings, furniture, machines, equipment, and stock. The stock can include:Ready-to-sell goodsGoods that are half-finishedRaw materials and packing itemsGoods kept safe for someone elseItems stored outside but still on the business property
  • Covers Other Problems Too Fire insurance doesn't only cover fire. It can also help if there's damage from:Theft (within 7 days of a fire or similar event)Earth sinking (land subsidence)Natural disastersVandalism or someone causing damage on purposeIf your business is in an area where such problems are common, fire insurance is a smart way to protect your property and money.

Why is Burglary Insurance Important?

If someone breaks into your home and steals your things, it can be very upsetting and costly. With burglary insurance, you can also add extra protection for expensive items like jewelry, diamonds, or stones.

If a stranger breaks into your office and steals goods, tools, or equipment like typewriters or calculators, burglary insurance helps you with money to recover from the loss.

Burglary insurance protects your home or office from loss caused by forced or violent theft. If theft happens often in your area, it is smart to get burglary insurance to keep your place safe and protected.

Features of Fire Insurance

  • You can choose how much protection you want.
  • Fire insurance helps if there is a fire.
  • If something gets damaged, you get money to fix or replace it.
  • If your business stops because of fire, it can pay you money for the lost earnings.
  • It protects different kinds of property from fire damage.

Benefits of Burglary Insurance Plans

  • Burglary insurance helps pay for any loss or damage to your property caused by burglary or break-ins.
  • If you insure your business place, it covers damage to your products, furniture, and other items inside.
  • Even if your insured amount is less than the loss, the plan will pay for the part of the damage covered.
  • Some insurance companies let you add extra coverage for things like strikes, cash, jewelry theft, riots, and vandalism by paying a little more.

Type of Fire Insurance in India

You can buy different fire insurance policies in India. Here are three main fire insurance policy types:

  • 1 Standard Fire & Special Perils

    This policy covers damage or loss to buildings, machines, stock, and other things if the insured amount is more than ₹50 Crores.

  • 2 Bharat Laghu Udyam Suraksha

    This policy covers damage or loss to buildings, machines, stock, and other things if the insured amount is between ₹5 Crores and ₹50 Crores.

  • 3 Bharat Sookshma Udyam Suraksha

    This policy covers damage or loss to buildings, property, machines, stock, and other things if the insured amount is up to ₹5 Crores.

Types of Burglary Insurance Plans

  • 01

    Full Value Insurance

    This plan covers the full value of your property. If your property is stolen or damaged, you can claim the entire insured amount.

  • 02

    First Loss Insurance

    This plan is for when you cannot know the exact total loss. It covers only a part of your stock that is most likely to be stolen. You won't get money for small losses but will get help if the loss goes over a certain amount.

  • 03

    Stock Declaration Insurance

    This type of insurance is used by businesses with changing stock amounts, like shops or warehouses. You set the insured amount based on the highest expected stock value. Every month, you tell the insurer your stock value, and the premium is adjusted after the policy ends based on the average stock value.

Inclusions and Exclusions Under Fire Insurance in India

What is Covered Under Fire Insurance

  • Damage from Theft

    If your belongings are stolen during or after a fire or related event, insurance helps cover the loss.

  • Water Tank or Pipe Breakage

    If water tanks or pipes burst and cause flooding or damage, the policy covers it.

  • Harm from Riots or Vandalism

    Damage caused by violent protests, strikes, or intentional harm to property is included.

  • Losses Due to Earthquakes or Volcanoes

    Damage from shaking earth or volcanic eruptions is covered by insurance.

  • Lightning Strikes

    If lightning hits your property and causes damage, this is protected.

  • Landslides and Rockfalls

    If soil or rocks slide and damage your property, insurance will help with repairs.

  • Explosion or Sudden Collapse

    Damage caused by blasts or sudden inward collapse is part of the coverage.

  • Protection from Severe Weather and Floods

    Insurance covers damage caused by storms, cyclones, hurricanes, floods, and similar natural disasters.

  • Fire Damage

    The main coverage protects you against loss or damage caused by fire.

  • Damage from Missile Tests

    If missile testing or explosions nearby cause damage, this is covered.

  • Forest or Wildfires

    Fires that start in forests or wild areas and affect your property are included.

  • Sprinkler System Leaks

    If your automatic sprinkler system leaks water and damages property, insurance helps.

  • Impact from Vehicles or Falling Objects

    Damage caused by cars, trucks, or things falling onto your property is covered.

What is Not Covered Under Fire Insurance

  • Intentional Damage

    Damage caused on purpose by someone is not covered by fire insurance.

  • Stock Damage from Temperature Changes

    If goods in cold storage get spoiled because the temperature changes, insurance may not cover this.

  • War or Invasion

    Damage caused by war, invasion, or similar fighting is not covered.

  • Pollution or Dirt

    Damage caused by pollution or contamination is usually not included in fire insurance.

  • Lost or Missing Items

    If property goes missing or is lost without a clear reason, it is not covered.

  • Indirect Losses

    Losses that happen as a result of damage (but not the damage itself) are not covered.

  • Empty Building for Over 30 Days

    If your building is empty or not used for more than 30 days, insurance might not pay for damages.

  • Costs to Make a Claim

    Fees or expenses spent to file or prepare an insurance claim are not covered.

  • Damage to Electrical Machines

    Damage to specific electrical machines might not be included in the policy.

  • Short Circuit Damage

    Damage caused by short circuits may or may not be covered, depending on the policy.

  • Electricity Leak Damage

    Losses due to electricity leaking or faults are usually not covered.

Inclusions and Exclusions Under Burglary Insurance in India

What is Not Covered?

  • Loss of Property and Valuables

    Covers loss or damage to things like stock, machines, and personal items.

  • Damage to Building

    Pays to fix damage to your property caused by burglars breaking in.

  • Extra Options

    You can add protection for things like riots, strikes, and vandalism if your policy allows it.

What is Not Covered Under Fire Insurance

  • Is there any damage due to war, a foreign enemy's act, invasion, etc, then it's not covered in Fire Insurance.
  • Damage that occurs due to nuclear peril is not covered by Fire Insurance.
  • You cannot get any coverage if the company's staff or owner's family member was involved in the actual theft.
  • If the damage or loss occurs due the company's staff/family member
  • Damage caused by riots, strikes, civil unrest, and so on are also not covered by Fire Insurance.
  • If the asset or property rights have been transferred to another individual by the insured through a will or by operation of law.
  • If the precious gems, jewelry, cash, etc. are not specifically covered in the policy, it will not be covered by insurance companies.
  • Damages resulting from any sort of consequential loss are not covered by Fire Insurance.
  • When the property of the insured is left uninhabited for 7 or more days in a row.
  • Any damage(s) caused by nationalisation, seizure, etc is also not covered.

Add-ons in Fire Insurance Policy

These are some extra covers you can add to your fire insurance:

  • 1

    Loss of Rent

    Pays you if you lose rent because your property can't be used after fire damage.

  • 2

    Impact Damage

    Covers damage caused by vehicles hitting or things falling on your property.

  • 3

    Temporary Stock Removal

    This covers the cost of moving your stock temporarily to keep it safe.

  • 4

    Terrorism

    Covers damage caused by terrorist attacks.

  • 5

    Start-up Costs

    Covers costs to start your business again after a fire.

  • 6

    Spontaneous Combustion

    Covers damage from things that catch fire on their own.

  • 7

    Debris Removal

    Pays to clean up and remove broken pieces after a fire or damage.

  • 8

    Leak and Contamination

    Covers damage from leaking water or other harmful substances.

  • 9

    Forest Fire

    Covers damage caused by fires in nearby forests.

  • 10

    Expert Fees

    Covers fees for architects, surveyors, and engineers who help fix damage.

  • 11

    Earthquake

    Covers damage from earthquakes, including fire and shaking.

  • 12

    Temporary Housing

    Pays for temporary places to stay if your home or building is damaged.

  • 13

    Spoiled Goods

    Covers loss of food, medicine, or other perishable items that spoil.

  • 14

    Uninsured Changes

    Covers damage to any new parts or changes to your property that were not insured.

Eligibility Criteria to Buy Fire and Burglary Insurance

To buy fire or burglary insurance, you need to meet these rules:

  • 1

    You must own the property you want to insure.Different insurance plans are for different types of properties like apartments, houses, offices, or factories.Insurance companies want the property to be worth a certain minimum amount.They will check the condition of your property to find any risks before giving you insurance.You must give documents like proof that you own the property, your address, and your ID.If you have a good credit history and score, you might pay less for insurance.Older buildings usually need more insurance because they can be riskier.If you have made many insurance claims before, it might be harder to get insurance or you may have to pay more.

Documents Needed for Fire Insurance Claim

Here are some important documents that you need to submit at the time of claim:

  • 1

    A copy of your fire insurance policy with all details.A filled-out claim form.A copy of the news report if the fire was in the newspaper.Records of any earlier claims you made.Photos of the damage.A report from the fire department.A copy of the police report or FIR.

Fire and Burglary Insurance Claim Process

Here are the easy to follow steps by which you can easily claim your fire and burglary insurance:

  • 1

    Tell Your Manager

    Quickly tell your relationship manager about the fire or burglary.

  • 2

    Fill and Send Claim Form

    Fill out the fire insurance claim form and send it with the needed papers.

  • 3

    Claim Starts

    Your manager will send your information to the insurance company to start your claim.

  • 4

    Surveyor Visits

    The insurance company will send a surveyor to check the damage.

  • 5

    Give Documents

    The surveyor will tell you which documents to give. Send all the papers they ask for.

  • 6

    Get Your Money

    After checking everything, the insurance company will pay you the claim amount fast.

Why Choose Square Insurance for Fire and Burglary

  • 1

    24/7 Claim Support

    We help you with any kind of claim assistance 365 days a year. Our team is always ready to support you quickly if there is a burglary.

  • 2

    Compare Multiple Quotes

    We give you quotes from many insurance companies so you can pick the best price and plan for your business.

  • 3

    Simple & Clear Insurance

    We make insurance easy to understand, so you don't have to worry about confusing terms.

  • 4

    Customized Protection

    Our team listens to your needs and helps find the best coverage to protect your home or business.

  • 5

    Fast & Reliable Service

    We work fast to solve your problems, so you feel safe and supported at all times.

Easy Ways to File a Life Insurance Claim

FAQs

Burglary protection means guarding your home or business against break-ins and theft.

It is a policy that protects you financially if your property got damaged due to fire and burglary.

To make a burglary insurance claim, report the burglary to the police, inform your insurance company, and submit the required documents for the claim.

Burglary is covered under Section 457 and 460 of the Indian Penal Code (IPC).

This policy covers a fixed amount of loss instead of the full value of your property.

Common exclusions include damage caused by the owner, property left empty for long, war, nuclear damage, and riots unless specified.

Fire insurance protects your property from damage caused by fire.

The main principles are indemnity (compensation for loss), utmost good faith, insurable interest, and subrogation.

Report the fire to the fire department and police, inform your insurer, and provide all necessary documents.

The three elements are the insured property, the insured risk (fire), and the insurance policy.

It provides financial protection, peace of mind, and helps recover losses after a fire.

It covers losses from fire, lightning, explosion, and sometimes additional risks like riots or natural disasters.

Yes, fire insurance is a specific type of insurance protecting against fire-related losses.

Premium is calculated based on property value, risk factors, location, and coverage amount.

Many companies like ICICI Lombard, Bajaj Allianz, HDFC Ergo, and New India Assurance provide fire insurance.