PRODUCTFIRE & PROPERTY INSURANCE

Fire and Property Insurance provides financial protection against damages or losses to physical assets, such as buildings, equipment, and contents, caused by fire or other specified risks. It is commonly used by individuals, businesses, and organizations to safeguard their property.
The main components of this type of insurance include:

Insured Property
- Buildings:
  Residential, commercial, industrial properties.
- Contents:
  Furniture, equipment, machinery, and inventory.
- Fixtures and Fittings:
  Installed fixtures within a property.

Perils Covered
- Fire:
  Damage due to accidental or uncontrolled fire.
- Additional Perils (optional extensions):
  Explosion (non-industrial).
  Smoke damage.
  Water damage from firefighting efforts

Policy Period
- Coverage is usually offered for a specific duration, typically one year, and renewable annually.

The coverage provided by Fire & Property Insurance can be categorized as follows:

Standard Coverage
- Fire Damage:
  Covers physical damage caused by fire to the insured property.
- Lightning Damage:
  Losses due to direct or indirect lightning strikes.
- Explosion:
  Covers non-industrial explosions (e.g., gas leaks).

Additional Coverages (Riders or Extensions)
- Natural Disasters
- Earthquake.
- Storm, typhoon, or flood.
- Riot, Strike, and Civil Commotion (RSCC): Protects against damages caused during public disturbances.
- Impact Damage: Covers damages caused by objects falling onto the property (e.g., trees, cranes).
- Theft or Burglary: Covers losses due to theft or forced entry.
- Water Damage: Includes damages caused by leaking pipes or firefighting efforts.

Business Interruption or Loss of Rent or Consequential Loss
- Covers financial losses resulting from the inability to use the property after an insured event.

Liability Coverage
- Provides protection against third-party claims for property damage or bodily injury caused by fire originating from the insured property.

Types of Fire & Property Insurance

Fire & Property Insurance is designed to protect various types of assets and properties. The types of coverage can very depending on the specific needs of individuals or businesses. Here are the main types:

Standard Fire Insurance
- Polis Standar Asuransi Kebakaran Indonesia (PSAKI)
  - Coverage :
    Protects against damage or loss caused directly by fire.
  - Applications :
    Suitable for homeowners, businesses, and industrial properties.
- Comprehensive Property Insurance
  - Coverage :
    Provides broader protection, including fire, natural disasters, theft, and accidental damage.
  - Applications :
    Commonly used by businesses to cover buildings, machinery, inventory, and other physical assets.
- Homeowner’s Insurance
  - Coverage :
    Combines fire insurance with additional protections for the home and its contents, ncluding liability coverage.
  - Applications :
    Designed for residential properties and personal belongings.
- Commercial Property Insurance
  - Coverage :
    Specifically tailored for businesses, it covers buildings, equipment, inventory, and other business-related assets.
  - Applications :
    Ideal for retail stores, offices, warehouses, and factories.
- Natural Disaster Insurance (Extension of Fire Insurance)
  - Applications :
    Added as a rider to fire insurance for properties in high-risk areas.
  - Coverage :
    Provides additional coverage for damages caused by natural disaster such as earthquake, flood, and storm.

PT. Tala Reinsurance Brokers

Graha Mustika Ratu, 6th Floor
Jl. Gatot Subroto Kav. 74-75
Jakarta 12870

+6221 830 6663

+6221 830 6662

talare@tala-re.com wearetalare