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Protect your business against fire and allied risks.
Our insurance expert will reach out to you shortly to help you get started.
PRODUCT OVERVIEW
Fire Insurance is a commercial property insurance policy that protects businesses against financial losses arising from unforeseen incidents such as fire, explosion, lightning, natural calamities, riots, or accidental damage. It provides coverage for physical damage or loss caused to insured business assets such as office premises, factories, warehouses, plant and machinery, stock, equipment, furniture, and fixtures.
WHY INSURANCE
Fire insurance helps safeguard business premises, machinery, stock, equipment, furniture, and other valuable assets against fire-related damages.
It provides financial protection against losses caused by fire, lightning, explosions, and certain natural calamities covered under the policy.
The policy helps businesses manage repair, reinstatement, and replacement expenses, reducing the financial burden after a major incident.
Supports quicker recovery from property damage and business interruptions caused by fire-related incidents.
Useful for factories, warehouses, offices, retail shops, and other commercial establishments exposed to fire risks.
HIGHLIGHTS
Fire and explosions are ranked as a top 10 global business risk in 2026, remaining a perennial threat to operations. (1)
Global insured losses from natural catastrophes (including fire/wildfire) are projected to hit $148 billion in 2026 due to "secondary perils." (2)
Large-scale commercial fires continue to impact regional economies, with early 2026 reports citing single-incident industrial losses exceeding $34 million (₹285 crore) in heavy industry zones. (3)
For the construction and engineering sectors, fire is ranked as the #3 top business risk globally, highlighting its disproportionate impact on infrastructure projects. (4)
WHO SHOULD PURCHASE
Protect office infrastructure, furniture, equipment, electronics, and business assets against unforeseen incidents and operational disruptions.
Factories handling combustible materials, high electrical loads, boilers, furnaces, or chemical storage require broader fire and allied peril coverage, along with higher sum insured limits, due to their susceptibility to fire hazards.
Secure stored inventory, goods, machinery, and stock against damage arising from fire, explosion, natural calamities, and other covered risks.
HIGHLIGHTS
The Standard Fire and Special Perils Policy is suitable for businesses with total asset values exceeding ₹50 Crores. It provides coverage for buildings, plant and machinery, stock, inventory, electrical installations, furniture, fixtures, and other insured business assets against fire and allied perils such as explosion, lightning, riots, storms, floods, and earthquakes.
Bharat Sookshma Udyam Suraksha caters to small businesses and micro enterprises with total asset values up to ₹5 Crores. The policy offers standardised fire insurance coverage for shops, retail outlets, warehouses, small offices, restaurants, service establishments, and manufacturing units against losses arising from fire and related perils.
Bharat Laghu Udyam Suraksha is applicable for businesses with total asset values between ₹5 Crores and ₹50 Crores. It covers commercial buildings, machinery, stock, equipment, operational assets, furniture, and fixtures against fire, accidental damage, natural calamities, and other insured risks that may impact business operations.
INCLUSIONS & EXCLUSIONS
Fire and lightning
Covers losses caused due to fire outbreaks, lightning strikes, and resulting property damage.
Explosion and implosion
Protects against damages arising from internal or external explosions and implosions.
Natural calamities
Covers cyclones, storms, floods, hurricanes, typhoons, earthquakes, and related natural events.
Riots and terrorism
Provides coverage for losses caused by riots, strikes, malicious acts, and terrorism incidents.
Impact and water damage
Covers damages caused by vehicle or animal impact and overflow or bursting of water tanks and pipes.
Losses arising from war, invasion, nuclear hazards, or radioactive contamination are excluded.
Pollution and contamination
Does not cover damages caused due to pollution or contamination-related incidents.
Wear and tear
Normal ageing, gradual deterioration, corrosion, and depreciation of assets are not covered.
Intentional acts or negligence
Losses caused intentionally or due to wilful negligence by the insured are excluded.
Indirect financial losses
Consequential losses such as loss of profit, delay, or market loss are not covered unless specified.
Operational and uncovered losses
Excludes damages during processing operations, temperature-related stock loss, and unexplained theft or missing property.
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CLAIMS
Coverfox will assist the policyholder with the claim resolution. The employer must follow these steps to raise a claim for WC policy through Coverfox:
Inform us immediately after the fire or insured incident occurs through help@coverfox.com.
Complete and submit the claim form along with incident details, policy information, and supporting documents.
The insurer appoints a surveyor to inspect the damage, determine the cause of loss, and assess the claim.
The insurer reviews the surveyor's report, submitted documents, and policy terms to determine claim eligibility.
Once approved, the insurer settles the claim as per the policy terms and coverage limits.
WHY INSURANCE
To purchase an Employee’s Compensation Policy online, you need to provide basic business and employee-related information. Keep the following documents ready:
Fire Insurance policy document
Signed by an authorized signatory, detailing the nature of the business
Duly filled claim form
Including the number of workers and their job roles
Fire brigade report
Of employees for accurate premium calculation
Additional documents
If required by the insurer based on the nature of the business
COVERFOX EDGE
Get fire insurance quotes from IRDAI-approved insurers through a single platform for easier policy comparison and selection.
Get tailored insurance for offices, factories, warehouses, retail outlets, hotels, and commercial establishments based on business requirements.
Receive dedicated support for policy issuance, renewals, endorsements, and claim-related assistance throughout the policy period.
Get assistance in understanding coverage inclusions, add-on covers, exclusions, and insurer-specific terms before purchasing the policy.
Fire Insurance generally covers losses or damages caused by fire, explosion, lightning, natural calamities, riots, storms, floods, and other allied perils specified in the policy.
Fire Insurance is suitable for businesses, factories, warehouses, offices, retail shops, hotels, restaurants, housing societies, and commercial establishments with physical assets and infrastructure.
While Fire Insurance is not mandatory for all businesses, certain lenders, landlords, industrial regulations, and commercial contracts may require businesses to maintain adequate fire coverage.
Yes, but only if Business Interruption or Loss of Profit cover is included in the policy. A standard Fire Insurance policy mainly covers physical damage caused by fire and related risks.
Premiums are determined based on factors such as property type, sum insured, occupancy, location, asset value, fire safety measures, and risk exposure.
Yes, businesses can enhance coverage through add-ons and policy extensions based on operational and industry-specific risks.
Yes, Fire Insurance can cover stock, raw materials, finished goods, and inventory against insured fire and allied perils, subject to policy terms.
You must immediately inform the insurer, submit the claim form, provide supporting documents, and cooperate with the surveyor appointed by the insurer.
Commonly required documents include the policy copy, claim form, fire brigade report, FIR, photographs, invoices, and proof of loss or damage.
Claim settlement timelines vary depending on the nature of the loss, documentation, surveyor assessment, and insurer verification process.
Disclaimer
Coverage, inclusions, exclusions, add-ons, claim settlement, and policy terms may vary depending on the insurer and policy selected. Please refer to the respective policy wording, terms & conditions, and coverage documents for complete details, limitations, and exclusions before purchase.
1 Source: Allianz Risk Barometer 2026
2 Source: Swiss Re Institute, Global Catastrophe Trends.
3 Source: NFPA Large Loss reporting / Regional fire department incident data (Q1 2026).
4 Source: 2026 Industry Risk Rankings, Allianz Risk Barometer.
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