Fire Insurance

A fire insurance policy covers for losses that are caused by fire. It is a contract made between the insurer and the provider of the insurance service. A policy is available at a premium, and it covers for the loss caused to the victim due to a fire.

The different types of fire policies available in India are:

  • Specific Policy with Average Clause : At times the insured may buy a nominal sum assured where the actual value of loss can be substantial. In such cases, the insurer applies the average clause to limit its liability, and the compensation amount is proportionately reduced.
  • Comprehensive Policy : This refers to the complete 360° protection for the property if the insured property is a house, shop, office, or factory it will also cover the loss due to burglary and break-ins. For homeowners, the comprehensive policy includes the building and the contents of the building as well.
  • Valued Policy : Useful for insuring precious items, artwork, and antiques, the asset’s value is agreed between the insurer and insured at the time of insurance. In most cases, the market value is not available for such items.
  • Floating Policy : Very useful for businesses with multiple branches at various locations, it covers all the branches under one single policy. This policy also has the average clause applicable to any claims.
  • Reinstatement Value Policy : This policy compensates the market value of the lost property after accounting for any depreciation (not applicable for under construction property or machinery). The sum assured is based on the market value of the similar asset.

Contact Us

Marutinandan Insurance
306/B, Kaveri Complex
Navapara, Bhavnagar
Gujart, India
P: 9376983815
E: marutinandaninsurance@gmail.com

About Us

We are LIC's authorised & recognised IRDA certified LIC Agent / Advisor in Gujarat since 15 years, providing Professional & value based Insurance services to our esteemed clients not only in Gujarat, but across India & Globally

New LIC Plans

At the end of the financial year 2018-19, we have 23 plans for sale under individual business. The products satisfy the different needs of various segments of society. The plans are Endowment type, Money Back type, Health, annuity/pension type plans etc.Call us on 9376983815 for a consultation in choosing the right plan for you.

LIC Tax Saving Plans

Premiums paid under all LIC Insurance Polices are eligible for Tax rebate. You can avail maximum Tax rebate upto Rs 1,50,000 on the premiums paid under section 80c.

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