Property InsuranceFire and Allied Perils
Fire and allied perils is the base property cover in the Saudi market. It insures buildings, plant, stock and contents against fire and lightning together with a named list of further perils - explosion, impact, storm and flood, earthquake, and escape of water from tanks and pipes.
For many businesses it is the policy a landlord or a lender asks to see. Flood and storm are not nominal risks here: the Kingdom's coastal cities and wadi-side developments have taken significant flash-flood losses, and sums insured should reflect current rebuilding costs rather than book value.
Risk Coverage
- Explosions
- Storms, tempests and floods
- Earthquakes, volcanic eruptions
- Aircraft or any other aerial devices or articles dropped from impact damage by your own or any third party road vehicles, horses or cattle.
- Bursting or overflowing of water tanks, apparatus or pipes
- Loss of profits or the interruption of business
- Loss of Rent
- Third party legal liability including the liability of landlords towards their tenants
- Tenants liability towards their landlords
- Strikes, riots & civil commotions
- Malicious damage
- Theft/Burglary following a forcible entry/exit from the insured premises
- Accidental damage to plate glass fixed to the buildings
- Removal of debris expenses following losses or damages to the insured property
- Fire brigade charges and extinguishing expenses
- Architects, surveyors and legal and consulting engineeing fees
Pre-requirements
Broker of Record- Commercial Registration
- Wassel /National Address
- VAT Certificate
- Breakdown List
- 3 years claims experience
- A declaration letter if first time insurance
- Proposal Form