once there is contract between insurer and the client,, a document known as standard fire special perils policy is issued which is also known as policy documents. It is an agreement between insurer and insured and both the parties are bound to follow the terms and condition mentioned therein. Insured the value of the Property at the time of the happening of its destruction or the amount of such damage or at its option reinstate or replace such property or any part thereof.

I. Fire
Excluding destruction or damage caused to the property insured by
(a) (i) its own fermentation, natural heating or spontaneous combustion.
(ii) its undergoing any heating or drying process.
(b) Burning of property insured by order of any Public Authority.

II. Lightning

III. Explosion/Implosion
Excluding loss, destruction of or damage
a) to boilers (other than domestic boilers), economizers or other vessels, machinery or apparatus( in which
steam is generated) or their contents resulting from their own explosion/implosion,
b) caused by centrifugal forces.

IV. Aircraft Damage
Loss, Destruction or damage caused by Aircraft, other aerial or space devices and articles dropped there from
excluding those caused by pressure waves.

V. Riot, Strike and Malicious Damage
Loss of or visible physical damage or destruction by external violent means directly caused to the property
insured but excluding those caused by
a) total or partial cessation of work or the retardation or interruption or cessation of any process or
operations or omissions of any kind.
b) Permanent or temporary dispossession resulting from confiscation, commandeering, requisition or
destruction by order of the Government or any lawfully constituted Authority.
c) Permanent or temporary dispossession of any building or plant or unit of machinery resulting from the
unlawful occupation by any person of such building or plant or unit or machinery or prevention of access
to the same.

VI. Storm, Cyclone, Typhoon, Tempest, Hurricane, Tornado, Flood and Inundation
Loss, destruction or damage directly caused by Storm, Cyclone, Typhoon, Tempest, Hurricane, Tornado,
Flood or Inundation excluding those resulting from earthquake, Volcanic eruption or other convulsions of
nature. (Wherever earthquake cover is given as an “add on cover” the words “excluding those resulting from
earthquake volcanic eruption or other convulsions of nature” shall stand deleted).

VII. Impact Damage
Loss of or visible physical damage or destruction caused to the property insured due to impact by any Rail/
Road vehicle or animal by direct contact not belonging to or owned by
a) the Insured or any occupier of the premises or
b) their employees while acting in the course of their employment.

VIII. Subsidence and Landslide including Rock slide
Loss, destruction or damage directly caused by Subsidence of part of the site on which the property stands or
Land slide/Rock slide excluding:
a) the normal cracking, settlement or bedding down of new structures
b) the settlement or movement of made up ground
c) coastal or river erosion
d) defective design or workmanship or use of defective materials
e) demolition, construction, structural alterations or repair of any property or groundwork or excavations.

IX. Bursting and/or overflowing of Water Tanks, Apparatus and Pipes

X. Leakage from Automatic Sprinkler Installations
Excluding loss, destruction or damage caused by
a) Repairs or alterations to the buildings or premises
b) Repairs, Removal or Extension of the Sprinkler Installation
c) Defects in construction known to the Insured.

XI. Bush Fire
Excluding loss, destruction or damage caused by Forest Fire.
PROVIDED that the liability of the Company shall in no case exceed in respect of each item the sum
expressed in the said Schedule to be insured thereon or in the whole the total Sum Insured hereby or such
other sum or sums as may be substituted therefore by memorandum hereon or attached hereto signed by or on behalf of the Company.

(A) GENERAL EXCLUSIONS 1) Loss, destruction or damage caused to the insured property by pollution or contamination excluding
a) pollution or contamination which itself results from a peril hereby insured against.
b) any peril hereby insured against which itself results from pollution or contamination
2) Loss, destruction or damage to the stocks in Cold Storage premises caused by change of temperature.
3) Loss of earnings, loss by delay, loss of market or other consequential or indirect loss or damage of any kind or description whatsoever.

1. THIS POLICY shall be voidable in the event of mis-representation, mis-description or non-disclosure of any material particular.
2. All insurances under this policy shall cease on expiry of seven days from the date of fall or displacement of any building or part thereof or of the whole or any part of any range of buildings or of any structure of which such building forms part.
3. At all times during the period of insurance of this policy the insurance cover will be maintained to the full extent of the respective sum insured in consideration of which upon the settlement of any loss under this policy, pro-rata premium for the unexpired period from the date of such loss to the expiry of period of
insurance for the amount of such loss shall be payable by the insured to the Company. The additional premium referred above shall be deducted from the net claim amount payable under the policy. This continuous cover to the full extent will be available notwithstanding any previous loss for which the company may have paid hereunder and irrespective of the fact whether the additional premium as mentioned above has been actually paid or not following such loss. The intention of this condition is to ensure continuity of the cover to the insured subject only to the right of the company for deduction from the claim amount, when settled, of pro-rata premium to be calculated from the date of loss till expiry of the policy.

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