Aims

To protect the owner in respect of the actual property value at the time of happening of its accidental physical damage to the property owner in case of loss under insured perils. 

Covered Items

• Building and Fixtures excluding Foundations & Drains
• Content including decoration, furniture and fittings inside the property
• Equipment, computer system and named contents
• Stock in Trade including raw materials, semi-finished and finished goods

Normal Excluded Items

• Boilers or other vessels machinery and the like
• Livestock growing crops or trees
• Money, cheques, stamps, bonds and the like
• Property held in Trust and etc.

Covered Perils

• All Risk Insurance Type, including perils named under Fire & Extra Perils, with additional Perils of Burglary unless specified on Exclusion Provision
• Fire & Extra Perils, to name a few, Bush Fire, Earthquake, Explosion, Malicious Damage, Sprinkler Leakage, Typhoon, Windstorm, Flood, Water Tanks, Apparatus & Pipes, Landslip and Subsidence and subject to Exclusion.

Policy Type / Coverage Period

• Standalone Policy or Package with other benefits such as Home / Shop / Office Package Insurance
• Annual Policy

Premium

Subject to Sum Insured Banding / Probability of Loss / Severity of Loss / Excess Applicability

Exclusion unless provided under Extension Clauses

• Fire and explosion resulting from an earthquake, volcanic eruption or other convulsion of nature
• Insured property's own spontaneous fermentation or heating or undergoing any process involving the application of heat
• Theft during or after the occurrence of a fire
• Standard Exclusions

Market

In general, the insurance company keens on this business line except those properties owned by specialized industry as Restaurant, Construction and the like.  Price is inferior to rational consideration of Insurer’s Prudence & Professional Consultants Service.