Fire insurance is a type of non-life insurance that covers the risk of losses or damages to insured property in case of fire, lightning strikes or gas explosions. In addition, this insurance also covers assets that are damaged by heat or smoke emanating from fires as well as water damage that often results from hoses and extinguishers used to put out fires. Our insurance also covers losses and damage that can be caused by firefighters when they are tackling the blaze. For example, in a severe fire, neighboring buildings are often demolished to ensure that it does not spread to other areas
What type of property can be insured?
When most people think of fire insurance, they usually presume that cover only applies to houses and other properties but most insurance companies are able to offer full cover, which includes assets and personal effects. Most types of cover come under two categories:
1. Construction (excluding the construction foundation). This cover includes residential properties like houses, townhouses and semi-detached-houses as well as garages and connected buildings such as servants quarters, outdoor kitchens, walls, fences and gates. Cover can also is also available for flats and condominiums units.
2. Property contained within the building such as furniture, ornaments, utensils and electrical equipment including musical and audio equipment, kitchenware, clothes and various other assets of the insured persons or kin living with them.
What coverage does fire insurance provide?
For residential policies, insured persons will be covered in the following circumstances:
Lighting (including damage to electrical equipment in the case of short-circuiting)
Accidents caused by vehicles, elephants, horses, cows or buffalos. This excludes any loss or damage caused by elephants, horses, cows or buffalos that may belong to the insured persons, people hired by them or their family members who share the same residence.
Accidents caused by aircraft or objects falling from aircraft, excluding losses from aircraft landing on the insured persons premises with permission. This definition of aircraft includes self-driven missiles and spaceships.
Accidents caused by water or flooding. This includes emissions, leaks and overflows of water, steam released from pipes, tanks, heat generating systems, water pumps, household fire extinguishers, cooling systems, or leaks of rainwater through roofs, windows, door frames, doors, air or light ventilators, water pipes and gutters.
In addition to basic coverage, it is also possible to buy extra policies to cover floods, storms, and earthquake damage for further peace of mind.
Terms of coverage
When compared to other types of cover, the premiums for fire insurance for residences can seem quite low but you have to take into account how expansive the coverage can be. The expansive cover has led to a great deal of interest especially among clients who want longer term cover and the insurance company can, as a result, offer more coverage at even lower premiums.
1 year, 100% premium
2 years, 175% premium
3 years, 250% premium
For further details, please contact Dhipaya' s Fire Insurance Department
Tel. 0-2239-2200 ต่อ 2186, 2167, 2166