Trusted Advice. Tailored Solutions. Lasting Protection.

fire & property Insurance

Fire insurance for businesses in India is streamlined into three main policy types, each catering to different risk levels and asset values. Our fire insurance solutions provide comprehensive protection from basic fire and allied perils coverage to all-risk policies for mega industrial complexes

1. Standard Fire & Special Perils (SFSP) Policy

Named-perils coverage for fire and associated risks such as lightning, storm, flood, impact, riots, and more. SFSP protects properties including offices, factories, warehouses, shops, and buildings through 12 specified perils.

Sum Insured Criteria

Flexible sum insured with no rigid minimum/maximum, but typically used for properties where total sum insured is below Rs. 50 crores per location. Property insured on reinstatement value or market value basis.

Who Should Choose

Small and medium businesses, commercial establishments, educational institutions, healthcare facilities, manufacturers with moderate asset values.

Three Classes of SFSP Based on Sum Insured:

Sum Insured Range: Up to Rs. 5 crores

Suitable for: Small shops, offices, micro-manufacturing units, small godowns

Features: Simplified standardized policy with earthquake cover included

Sum Insured Range: Rs. 5 crores to Rs. 50 crores

Suitable for: Medium factories, commercial complexes, warehouses, educational institutions

Features: Broader coverage with standardized terms, earthquake cover included

Sum Insured Range: Above Rs. 50 crores per location

Suitable for: Large factories, multi-location enterprises, specialized manufacturing units

Features: Tailored coverage with flexible terms, optional earthquake and terrorism cover

2. Industrial All Risk (IAR) Policy

A comprehensive all-risk package combining property damage, machinery breakdown, and business interruption coverage for large industrial and manufacturing units. Provides wide coverage beyond named perils.

Sum Insured Criteria

Minimum sum insured of Rs. 50 crores per location required. Some insurers may require Rs. 100 crores total for eligibility across multiple locations. Sum insured based on reinstatement value for buildings/machinery and market value for stocks.

Who Should Choose

Industrial enterprises, large manufacturing plants, engineering firms, power plants, refineries, large hotels, processing units with high-value machinery and significant business interruption exposure.

Key Features:

  • Material damage coverage on all-risk basis
  • Machinery breakdown included
  • Business interruption (loss of profit) coverage
  • Comprehensive protection with minimal exclusions
  • Single policy for multiple perils

3. Mega Risk Policy

Tailor-made all-risk insurance for very large corporates and mega industrial projects. This specialized policy combines property damage, machinery breakdown, business interruption, and liability coverage under a single comprehensive contract with highly customized extensions.

Sum Insured Criteria

Minimum sum insured exceeding Rs. 2,500 crores per location (for property damage and business interruption combined). Policies issued on reinstatement (new replacement) value basis with no depreciation. Designed exclusively for mega industrial complexes.

Who Should Choose

Mega industrial units, refineries, steel plants, power utilities, petrochemical complexes, large infrastructure projects, and similar enterprises with very high asset concentration and complex risk profiles.

Key Features:

  • Customized policy wordings tailored to specific risks
  • Worldwide coverage extensions available
  • High-value limits for all sections
  • Specialized claims handling
  • Comprehensive liability coverage options
  • Dedicated risk management services

Trusted Advice. Tailored Solutions. Lasting Protection.

what people are saying

Hear what our valued clients have to say about their experience with BP Risk.

Quotes Dark

BP Risk Advisors helped us consolidate our entire insurance portfolio and saved us significant costs. Their 20 years of experience shows in their professional approach.

Rajesh Kumar – Corporate Client

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Their expertise in marine insurance is outstanding. Been with them for 15 years and never disappointed.

Anil Mehta – Corporate Client – Mumbai