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Fire And Allied Perils Insurance

FIRE AND ALLIED PERILS INSURANCE

When the unexpected strikes, it can be devastating for your business. Guard against damage caused by fire, lightning and explosion with this policy – which provides cover for plant, machinery, fixtures and fittings and all other contents and tenant improvements.

Cover can also be extended to include damage by storm, wind, water, hail or snow, earthquake, impact by animals, trees, aerials, satellite dishes, vehicles, aircraft and other aerial devices or articles dropped there from, leakage or discharge from fire extinguishing appliances, subsidence and landslip,
and malicious damage.

Please note:
Always base the sum insured on the new replacement value, taking into account the escalation and post-loss inflation of rebuilding costs.
Remember to include tenant improvements (e.g. flooring, partitioning, etc.) plus demolition and debris removal costs in the sum insured.
Stock – insure at the cost price to you (inclusive of VAT), NOT at the retail/resale price. Be mindful of stacking heights and ensure that stock is stored on pallets.
Buildings – always insure for the full replacement value, and NOT market value which bears no relationship to rebuilding costs. Include boundary and other walls, parking areas, driveways and all other structures.
Replacement value must include cost of demolition, debris removal, and erection of hoardings during rebuilding. Also include professional fees (e.g. architects, quantity surveyors) for reinstatement, limited to 15% of rebuilding costs.
Remember to also include air conditioning units and other landlord fixtures and fittings.
Theft from the building, or of goods in the open (e.g. air conditioning units, manhole covers, piping, neon signs and other signage, gutters, etc.), is not covered unless specified.

To speak to one of our brokers, contact us on 031 242 6800, or fill in the Request a Quote form.