the day everything almost burned.
Fire, short circuit, natural calamity, explosion. Cover for building, stock, machinery, electronic equipment plus business interruption. For factories, warehouses, retail shops, offices, hotels and educational institutions — the property you can't replace overnight.
six perils. one policy.
Fire insurance isn't only fire. It's the bundle of perils a building or business is most exposed to. The standard policy covers six — here's what each one means and where each one bites.
Direct fire damage to the insured property — structure, fittings, contents. Includes damage from extinguishing efforts (water damage from fire brigade). The base of the policy.
Damage from electrical short circuit, often the cause of fires that get classified differently. Modern policies cover both the short-circuit damage and the consequent fire.
Storm, cyclone, flood, inundation, earthquake. In Mumbai, the monsoon flooding clause is the one most owners need. Cover applies to building + stock + machinery.
Damage from boiler explosion, pressure vessel rupture, or gas explosion on the premises. Critical for factories, hotels, and any premises with industrial heating or kitchens.
Riot, strike, malicious damage, terrorism (RSMD-T cover). Impact damage from external vehicles. Increasingly relevant for ground-floor retail in dense neighbourhoods.
If a fire on your premises damages a neighbour's property or injures a passer-by, third-party liability cover handles the compensation claim. Often forgotten until needed.
five assets. all covered.
A fire claim isn't just "the building". It's the building plus stock plus machinery plus equipment plus the income lost while you're rebuilding. The flyer breaks it into five asset classes; this is how we'd size each one.
Structure, fittings, fixtures. Sum-insured = reinstatement value (today's cost to rebuild), not market value. For Mumbai commercial premises, building cost is roughly ₹2,000-4,500/sqft for shell + fittings.
Raw material, finished goods, stock in process. Floats with inventory level — declaration policy lets you average out seasonal swings. Critical for jewellery, electronics, garment retail.
Production machinery, plant equipment, fire risk to machinery. Often paired with Machinery Breakdown cover (separate policy) for full plant protection.
Computers, servers, billing systems, POS hardware. Modern policies bundle this even for small retail; data loss + reinstatement cost adds up faster than people think.
Loss of income during the period your business cannot operate due to a covered fire. Pays gross profit + standing expenses (rent, salaries) for the indemnity period — usually 6 or 12 months. The line most owners skip and then regret.
Fire insurance is offered through funds to wealth., with Archita as a Point of Sales Person (POSP) of D2C Insurance Broking Pvt. Ltd. (RenewBuy), an IRDAI-licensed insurance broker. The actual policy contract is between you and the chosen insurer. Panel insurers include ICICI Lombard, HDFC Ergo, Bajaj Allianz, TATA AIG, SBI General, Reliance General, Chola MS, Digit, IFFCO-Tokio, Universal Sompo and others.
Fire Insurance is the subject matter of solicitation. For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding a sale. Most fire policies follow IRDAI's Standard Fire and Special Perils policy wording; specific exclusions (war, nuclear, faulty design, gradual wear-and-tear, etc.) apply. Sum-insured should reflect reinstatement value, not depreciated book value.
questions, answered.
If yours isn't here, ask on the call. We answer in plain English.
My building is rented — do I still need fire insurance?
Yes — for the contents and your business interruption exposure. The landlord usually insures only the structure. Your stock, machinery, fittings, equipment, and the income lost during a fire claim are your exposure, not theirs. Most leases also require tenant fire cover.
Sum-insured — should it be market value or reinstatement value?
Reinstatement value. The number you'd need to rebuild or replace today, not the depreciated book value. Underinsurance triggers the "average clause" — if you're insured for half the reinstatement value, the insurer pays only half of any claim. We size this conservatively.
What's the average clause and why does it matter so much?
If your sum-insured is less than the actual value of the property, the insurer reduces the claim proportionally. Example: ₹50L sum-insured on ₹1Cr property = 50% underinsurance. Even a ₹5L fire claim pays only ₹2.5L. Worth doing a proper valuation rather than guessing.
Does fire insurance cover monsoon flood damage?
Yes — if you've opted for the Standard Fire and Special Perils policy with STFI (Storm, Tempest, Flood, Inundation) cover. STFI is included by default in most current policies but check the schedule. Mumbai monsoon flooding has triggered large claims in 2005, 2017, 2021.
How long does a fire claim take to settle?
Average 30-90 days for straightforward claims. Larger claims involve a surveyor appointment, loss estimation, and back-and-forth on documentation. We help you keep paperwork tight from day one to compress that timeline.
Do I pay funds to wealth anything for this?
No. You pay only the premium, exactly as priced by the insurer — nothing extra for coming through us. Insurance is solicited via D2C Insurance Broking Pvt. Ltd. (RenewBuy), an IRDAI-licensed broker, and everything we do operates within IRDAI rules. The honest fine print is at /disclosures.
let's insure your business.
A 30-minute call. We'll size the building, stock, and business-interruption cover, walk through what STFI and RSMD-T mean for your premises, and pull three insurer quotes.
got it. archita will call you.
Usually within 12 minutes during Mumbai work hours.
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