What is it?
Fire can cause serious damage and in some cases completely destroy a property and its contents. A fire insurance policy protects against the losses incurred when a building needs to be repaired or completely rebuilt.
Who needs Fire cover?
Every business has a vulnerability to the effects of fire, however well they may be protected by building design or fire prevention measures. Even if you take every precaution to reduce the risk of fire in your building, a fire can spread from a neighbouring property or even from an incident on the road outside.
, with business premises, equipment and records completely destroyed.
What does a Fire policy cover?
Fire cover can cover the full cost of new replacements for damaged items as a result of fire, whatever the cause of the fire, although stock in normally replaced at cost price.
Fire insurance will cover any fire whatever the cause, including fires started as a result of lightning or explosion. While you may require separate cover to protect you against losses caused by explosion, if a fire breaks out as a result of an explosion any damage caused by that fire will be covered under a fire policy.
A fire policy does not cover the consequential losses incurred as a result of the interruption caused to your business. Only by taking out business interruption cover can you safeguard against these potentially enormous losses.
What having Fire cover means to you
Even if you take all sensible safety precautions it is essential to make sure you are protected against the potentially catastrophic effects of fire. Having fire cover in place provides peace of mind in knowing that if your property is damaged or destroyed by fire you are financially protected against the rebuilding and replacement costs involved.