Corporates with large spread out business insurance need comprehensive protection for their operation. Insurance is an essential too to protect yourself against losses that could devastate your business.
Reliance has provided Reliance Standard Fire and Special Perils Policy with a combination of both standard and optional features so that you can choose the cover which best suits your business.
Property that can be covered under the Reliance Standard Fire and Special Perils Policy includes:
Property located outside the compound of Industrial/ Manufacturing risks, namely:
dwellings, offices, hotels, shops, etc
tank farms/gas holders
Key Benefits Customised Coverage
This policy provides comprehensive coverage to your property
You can enhance your cover with a range of add-ons.
You can also exercise the option to delete a few covers you may not need.
Long term polices for 'dwellings' with attractive long-term discounts.
Discounts available if you choose to delete a few covers
Discounts for favourable claims experience and risk improvement measure such as installation of fire extinguishing appliances.
Consequential Loss (Fire) Insurance Policy
A Consequential Loss (Fire) Insurance Policy is complimentary to the traditional Standard Fire and Specials Perils Policy. While the Standard Fire and Special Perils Policy Insurance seeks to provide indemnity for loss or damage to the physical property of the Insured, the prime objective of Fire Consequential Loss is to cover loss of Gross Profit due to reduction in turnover and increased cost of working , which can significantly impact the continuity of the Insured business.
The policy provides for following extensions:
Lay-off and retrenchment compensation and Notice Wages Liability
Supplier's extension and customer's extension
Insured's property stored at other locations
Public utilities extension
Industrial All Risks Policy
Industrial Units are exposed to a host of perils which threaten to bring their day to day operations to a grinding halt. Any loss or damage to property due to these perils can cause a lot of financial trouble, both in terms of the repair or replacement costs and the business loss that such events can bring about. The Reliance Industrial All Risks Policy can be the perfect solution for the industrial units to ensure complete coverage when such loss or damage occurs. Key Advantages
Provides comprehensive coverage for a variety of risks that any industrial unit can be exposed to
Exhaustive list of perils covered under the Material Damage Section
Machinery Loss of Profits can also be covered optionally
Covers loss due to interference or interruption of business
Option for higher deductibles is available for which suitable discount in premium can be considered