Property cover for fire and other perils specifically listed in the policy.
What this type of cover does
Can protect buildings, plant, stock and contents against insured events, subject to valuation and exclusions.
Who commonly considers it
Homeowners, shops, offices, factories and warehouses.
What to check in the policy
Registered name and IRDAI registration details of the insurer or intermediary
Who is insured, when cover starts and when it ends
Sum insured or benefit amount, deductibles, co-payments and sub-limits
Waiting periods, exclusions, claim conditions and cancellation terms
Premium amount, taxes, renewal rules and consequences of missed payment
Claim contact details and the insurer’s grievance-redressal process
Features vary by insurer and product. A generic plan type cannot tell you whether a particular claim will be paid; only the issued policy wording can do that.
