FIRE & ALLIED PERILS

Combined Fire & Theft
This policy provides your business premises with cover against fire and allied perils including theft for specified goods and office fixtures and fittings .

Industrial Fire:
Vanguard's Fire Policy is so flexible that whatever your needs, it can be tailored to suit them.

• This policy covers Business Premises (e.g. Factories, Shops, and Warehouses) and their contents against loss or damage by fire, lightning and explosion.
• The fire policy can be extended to cover special perils like earthquake, storm, flood, impact, overflowing of water tanks etc.
  

Assets All Risk Policy
This covers accidental damage, and damaged caused by fire and burglary to the Insured’s items.

Fire Loss of Profit and Consequential Loss
This insurance is popularly known as "Loss of Profits" or "Business Interruption" Insurance.

• Where business premises is destroyed or damaged by fire, the resultant interruption to business may cause a disastrous trading loss, which an ordinary fire policy does not cover.

The Consequential Loss Policy is designed to provide indemnity against trading losses as follows:

• Continuing overhead expenses which have to be met out of reduced earnings;
• Net profit loss due to a reduction in the volume of trading, wages of key employees although not gainfully employed during the interruption period, but whose services have to be retained until business returns to normal;
• Also wages in lieu of notice or redundancy payment to employees whose services are no longer required;
• Additional working cost reasonably incurred in order to overcome or minimize the effect of the damage upon the premises.

The premium for this insurance is based on the rate charged for Fire insurance on contents only of the premises and is dependent upon the indemnity period selected which is usually 6 to 12 months.

Theft / Burglary
This policy provides cover against theft for your business premises through forcible entry or exit

Deterioration of Stock
This insurance covers your business for the deterioration of chilled, refrigerated or frozen stock following the breakdown of the refrigerator or freezer that they are kept in.
The insured is indemnified for damage caused to the stocks by deterioration, contamination or rotting due to an accidental damage to the plant resulting in a rise in temperature.
The total liability of the company under this policy shall be limited to the insured value or market value whichever is less.