Commercial fire insurance protects the physical assets of your business, including buildings, machinery and installations, fixtures and fittings and stock, against loss or damage caused by fire, lightning and explosion. Beyond the main cover, the policy can be extended to reflect your specific exposures with earthquake and volcanic eruption, flood, strikes, riots and malicious damage, storm, escape of water and theft.
The most important element of a well-structured fire policy is a sum insured that reflects true value. Underinsurance can lead to a proportionate reduction of the indemnity when a claim arises. Valuation, deductible levels and the choice of extensions should therefore be considered together, while the final scope of cover is determined by the policy wording and clauses.
Who is it for?
- Manufacturing plants, factories and workshops
- Warehouses, logistics and distribution centres
- Offices, retail stores and service businesses
- Hotels, restaurants and hospitality businesses
Scope of cover
- Fire, lightning and explosion: Physical damage to buildings, machinery, fixtures and stock
- Earthquake and volcanic eruption extension
- Flood, storm, escape of water and snow load options
- Strikes, riots, civil commotion and malicious damage, and terrorism extensions
- Theft and glass breakage cover
- Debris removal costs
- Third party liability towards neighbours and tenant’s liability cover
Scope of cover, limits and deductibles are determined by the insurer’s general and special conditions; the final scope is set out in the policy.
The Proxima Brokers approach
We inspect your premises on site, build a risk profile based on construction, occupancy and protection measures, and help you set accurate sums insured. We compare cover and deductible options with several insurers and review the policy wording and clauses on your behalf. At renewal we update values, and when a loss occurs we support you through the loss adjuster’s survey and settlement.