Fire and theft for companies
The company’s property and assets in preservation and preservation with Euro Arab Insurance Group covers this document
Allied risk and fire insurance policy:
This type of document also covers a number of additional risks that may differ from one insurance policy to another, but the risks often include the following:
- Storms, tornadoes and floods
- The fall of the aircraft or any parts thereof
- Being hit by third-party vehicles
- Water pipes burst and water reservoirs overflowing
- Loss of profits / business interruption
- Legal liability pertaining to a third party, including liability towards the tenant landlords
- Tenants ’responsibility towards landlords
- The strikes, disturbances and subsequent deliberate harm to them
- Theft accompanied by the use of means of breaking and loosening
- Debris removal expenses
- Expenses for extinguishing the fire
- Fees for engineering and legal consultations, those responsible for surveying and surveying operations, and the architects.
Fire and additional risks insurance policy:
Fire and additional risks insurance policy is one of the important documents that covers the property of companies, institutions and individuals
It covers the following:
1- Insured property
- Buildings of all kinds (residential – commercial – industrial), including electrical and mechanical installations and installations, elevators and other services attached to them, whether they are owned or leased.
- All contents: home, office, commercial and industrial.
- Goods of all kinds.
2 – Covered hazards
This document covers mainly the risks of fire and lightning, and the insurance cover can be expanded to include: storms – tornadoes – floods – pipe bursts – earthquakes … etc., and these types of coverage are always mentioned in the document.
3 – Additional Coverages
The fire policy can be extended to include the following coverages:
- The costs of removing debris, which cover if it resulted from fire.
- Rental loss whereby the insured is compensated for the rental loss incurred within the limits of certain amounts.
- Loss of profits as a result of any material damage to the insured property as a result of a covered accident within the policy, which leads to hindering the operation, so this policy compensates the insured as a result of 1 – decrease in sales, 2 – increase in operating expenses.
- Civil liability, which extends to cover the civil and legal liability of the company towards neighbors, building owners, or tenants, which occurs as a result of a fire that extends to the affected persons.
4 – The data required to make fire insurance
The “insured” insurance company must be provided with the following data:
- The name and location of the site (s) to be insured.
- Building security amount.
- Fixed assets security amount (if any). In the event of valuable property, a detailed statement must be provided
- The cargo security amount (if any).
- The monthly rent for each location.
- Details of wages, salaries, administrative expenses, and expected net profit in case of profit loss insurance.
- Limits of liability in the event of a request for civil liability coverage.
- A sensory inspection of buildings and properties is carried out to inspect all safety measures followed and make recommendations for everyone’s interest
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