Fire Insurance for Garment Manufacturers

Fire Insurance for Garment Manufacturers: Inclusions

The Insurance for Garment Manufacturers provides coverage for the following perils:

• Fire: Coverage for damages caused due to a fire accident.
• Explosion: Damage caused due to any kind of explosion that leads to a fire incident.
• Lightning: Coverage against damage caused due to lightning.
• Damage by Aircraft: If an aircraft crashes or drops anything during a flight that damages the structure of the manufacturing plant.
• Natural Calamity: Damages caused due to storms, cyclones, typhoons, etc.
• Overflowing of Water Tank: In case the water tank kept on the roof of the manufacturing plant bursts out and damages the structure of the plant or the covered specified content in the plan.
• Bush Fire: In case of a bush fire, the damages caused will be covered.

Fire Insurance for Garment Manufacturers: Exclusions

The insurance policy for garment manufacturers does not provide cover for the following perils:

• Willful or intentional damage is not covered
• Damage caused due to pollution or contamination
• Any kind of damage caused to the electrical machines is not covered
• Damage caused due to terrorist attacks is not covered
• Any damage caused due to nuclear peril or attack is not covered
• Loss caused to the policyholder in the share market is not covered.

Fire Insurance for Garment Manufacturers: Claim Process 

In order to raise a claim under this insurance policy, follow the steps given below:

1. Inform the insurer as soon as the fire accident takes place.
2. Call the fire brigade to extinguish the fire
3. The insurer will send an inspector to inspect the damaged premises
4. Stay with the inspector and tells him/her everything they want to know
5. Give a detailed account of the damaged perils
6. Provide an estimated amount of the damage caused
7. Once the inspection is done, the inspector informs the insurance company.
8. The company begins the process of claim settlement from its end and settles the claim within the specified number of days.

Documents Required to File Claim

To raise the claim under this fire insurance plan, you will have to provide the following set of documents to the insurer:

• Policy copy with schedule and included clauses
• Filled claim form
• If the incident gets published in a newspaper then attach the newspaper cutting as well
• FIR, if any
• Previous claims, if any
• The report provided by the fire brigade
• Any other documents required by the insurer

Fire Insurance for Garment Manufacturers: FAQs