Fire and perils insurance


Atlantik Sha: Fire and perils insurance

Fire and special perils policy is an insurance policy that protects the insured against unexpected loss that might arise from fire, lightning, explosion (domestic). The policy also covers the following: destruction or damage caused by aerial devices, riots, strike and civil commotion, bursting and/or overflowing of water tanks, storm, flood, earthquake, bush fire, malicious damage, impact by vehicles and explosion. 

The policy ensures protection of fixed assets such as buildings and contents against physical loss or damage by fire; and floating assets such as stocks as well. If you’re looking for a reliable insurance company to provide you with comprehensive fire and perils insurance, Atlantik Sha has got you covered. Read on to learn more about the features of fire and perils insurance.

What does fire and perils insurance cover?

The standard cover is a named-peril policy covering following named perils:

  • Fire
  • Lightning
  • Explosion / Implosion
  • Aircraft Damage
  • Riot, Strike, Malicious Damages (RSMD)
  • Storm, Tempest, Cyclone, Typhoon, Hurricane, Tornado, flood, inundation (STFI)
  • Landslide and Rock slide
  • Missile Testing operations
  • Bush Fire
  • Bursting and/or overflowing of Water Tanks, Apparatus and Pipes
  • Leakage from Automatic Sprinkler Installations

Add-on Covers

Below are some of the add-on covers that you can choose:

  • Architects, Surveyors and Consulting Engineers fees
  • Debris Removal 
  • Deterioration of Stock in Cold Storage
  • Forest Fire
  • Impact Damage by insured's own vehicles etc.
  • Spontaneous combustion
  • Earthquake (Fire and Shock)
  • Spoilage Material Damage Cover
  • Leakage and Contamination Cover
  • Loss of Rent
  • Additional expenses on rent for Alternative Accommodation
  • Terrorism Cover


  • Excess as specified in the policy
  • Loss, destruction or damage caused by war, invasion, act of foreign enemy hostilities or war like operations (whether war be declared or not), civil war, mutiny, civil commotion assuming the proportions of or amounting to a popular rising, military rising, rebellion, revolution, insurrection or military or usurped power
  • Nuclear risks
  • Pollution or contamination
  • Loss, destruction or damage to bullion or unset precious stones, works of art, plans drawing, securities, money etc. and other such items 
  • Loss, destruction or damage to the stocks in Cold Storage premises caused by change of temperature
  • Loss, destruction or damage to any electrical machine, apparatus, fixture, or fitting arising from or occasioned by over-running, excessive pressure, short circuiting, arcing, self heating or leakage of electricity from whatever cause (lightning included) provided that this exclusion shall apply only to the particular electrical machine, apparatus, fixture or fitting so affected and not to other machines, apparatus, fixtures or fittings which may be destroyed or damaged by fire so set up
  • Loss of earnings, loss by delay, loss of market or other consequential or indirect loss or damage of any kind or description whatsoever 
  • Loss, or damage by spoilage resulting from the retardation or interruption or cessation of any process or operation caused by operation of any of the perils covered
  • Any loss or damage occasioned by or through or in consequence directly or indirectly due to earthquake, Volcanic eruption or other convulsions of nature


Which properties are not covered in fire and perils insurance?

  • Items such as unset precious stones or billions or work of art for a specific amount, manuscripts, drawings, plans, obligations, securities, documents or obligations of any kind, coins, stamps, paper money, books of accounts, cheques, or other books of business, records of a computer system, explosive manuscripts, etc.
  • The stock of cold storage due to temperature change.
  • Damage, loss, or destruction of any electronic or electrical machine fixture, apparatus, fitting arising from excess running, short-circuiting, self-heating, arcing, leakage of electricity due to any cause (including the lightning).
  • Damage, loss, or destruction of boilers, vessels, or economizers, apparatus, machinery wherein steam is generated through its own implosion/ explosion.

Why choose Atlanik Sha?

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