Fire and Consequential Loss / Business Interruption
This insurance covers buildings, machinery and stock against the risk of fire, lightning or explosion. There will be fire extinguisher quarterly inspection in every companies. Fire and special perils policy is an insurance contract that safeguards the insured against unforeseen contingency caused by accidental fire, lightning, explosion/implosion, destruction or damage caused by aerial devices, man made perils in the form of riots, strike etc, natural calamities like storm etc. Extensions to cover the following perils can also be included for a nominal premium :
- Flood
- Bursting or overflowing of water tanks
- Impact damage
- Malicious damage
- Riot and strike Your policy can also be extended to cover
- Loss of rent
- Architects’, surveyors’ and engineers’ fees
- Removal of debris
More information about AXA Fire Insurance coverage type.
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MSIG Fire Insurance
Why do I need a Fire Insurance?
Fight fire with fire insurance
Having that fire extinguisher alone will not suffice in the event of a raging fire that could threaten to burn down your building and goods. When you have a fire, the damage can go beyond just the burnt material that could bury a business under the soot for good.
Safeguard your business from the heat
MSIG one of the largest fire insurer in the country, has been insuring Malaysian building from small to large for over 100 years.
MSIG Fire Insurance policy provides coverage for buildings owned by the business, and in any event to protect the contents of your premises, such as machinery, equipment, stock, furniture against damages caused by Fire and/or Lightning.
- The policy can be extended to cover the following perils:
- Spontaneous Combustion
- Property to be insured may consists of the following:
- Building
- Property Rental
- Plant and Machinery
- Business Furniture, Fixtures and Fittings
- Stock-in-trade
- In addition, the following expenses due to an insured peril can also be insured:
- Removal of Debris
Why Do People Choose Us?
We were fortunate to have purchased a Fire Policy from MSIG to protect our beauty saloon as recently, fire started at our neighbour’s kitchen (restaurant) and it began to spread. Fortunately, ‘Bomba’ (Fire Brigade) arrived on time to extinguish and kept the fire under control. The fire happened during the night whilst we were closed.
It was only in the morning that we discovered that our shop was affected when we arrived to start business. What a shock we had! Our saloon was covered in soot and some of the equipment along the wall adjoining the neighbour was damaged. The anguish and anxiety to clean up the mess and to think of repainting as well as to repurchase those equipment worried us. Thankfully, MSIG adjusters attended to the loss and our claim was settled at about RM15,000.
On the other hand, our neighbour was not so fortunate for the extinguishing process of the ‘Bomba’ (Fire Brigade) resulted in their premises being damaged by water could not be claimed as they did not purchase a Fire Policy.
“We were surprised that the Fire policy we purchased for our business covers more than we expected.”
-MSIG Fire Policy Holder
- Cost for repainting to the damaged walls.
- Cost for cleaning up.
- Cost of reinstatement of damaged stocks.
- Cost of replacement of the equipment damaged by water/soot on a new for old basis.
The basic perils covered from a Fire policy are fire and lightning only. However, there are many other special perils which can be included with additional premium.
