National Standard Fire and Special Perils

National Standard Fire and Special Perils: Inclusions

The Standard Fire and Special Perils Policy provided by National Insurance Company Limited. covers the following:

• Fire: Coverage for damage caused by fire, including destruction and charring.
• Lightning: Protection against damages resulting from lightning strikes.
• Explosion / Implosion: Coverage for losses due to explosions or implosions, safeguarding against sudden and violent events.
• Aircraft Damage: Protection from damages caused by the impact of aircraft.
• Riot, Strike, Malicious, and Terrorism Damage (RSMTD Perils): Safeguarding against losses resulting from riots, strikes, malicious acts, and terrorism, providing coverage for damages caused by intentional harm.
• Storm, Tempest, Flood, Inundation, Hurricane, Cyclone, Typhoon and Tornado: Comprehensive coverage for damages caused by various atmospheric disturbances, including storms, floods, hurricanes, cyclones, typhoons, and tornados.
• Impact by any Rail/Road Vehicle or Animal: Protection against damages caused by the impact of vehicles or animals.
• Subsidence / Landslide including Rockslide: Coverage for losses resulting from subsidence, landslides, or rockslides, providing financial protection against ground movement.
• Bursting and/or Overflowing of Water Tanks, Apparatus: Safeguarding against damages caused by the bursting or overflowing of water tanks or related apparatus.
• Leakage from Automatic Sprinkler Installation: Protection for damages caused by leaks from automatic sprinkler systems.
• Missile Testing Operation: Coverage for losses resulting from missile testing operations.
• Pollution or Contamination Resulting from Any of the Above Perils: Comprehensive coverage for damages caused by pollution or contamination resulting from covered perils.
• Any Insured Peril Resulting from Pollution and Contamination: Extending coverage to include damages resulting from pollution and contamination associated with insured perils.
• Bush Fire: Protection against damages caused by bush fires, including the destruction of property in affected areas.

National Standard Fire and Special Perils: Exclusions

National Standard Fire and Special Perils does not provide coverage for the following:

• For each claim arising from Lightning, STFI, Subsidence, Landslide, including Rockslide, the liability is limited to 5% of the claim amount, with a minimum of Rs. 10,000. For all other perils, the minimum liability is Rs. 10,000.
• Expenses incurred on Architects, Surveyors, Consultant Engineers' fees, and Debris Removal exceeding 3% and 1% of the claim amount, respectively, will not be covered.
• Loss of earnings, loss by delay, loss of market, or any other consequential or indirect loss or damage of any kind is not covered.

Perils not covered:

• War and allied perils.
• Ionizing radiations and contamination by radioactivity.
• Pollution or Contamination.

Properties not covered

• Items like manuscripts, etc., unless specifically declared.
• Cold storage stocks due to changes in temperature.
• Loss/damage/destruction of any electrical or electronic machine, apparatus, fixture, or fitting arising from overrunning, excessive pressure, short-circuiting, arcing, self-heating, or leakage of electricity, regardless of the cause, including lightning.
• Loss/damage/destruction of Boilers, Economisers, or other Vessels in which steam is generated, machinery, or apparatus subject to Centrifugal force, by its explosion/implosion.
• This insurance does not cover loss or damage directly or indirectly caused by, arising from, in consequence of, or contributed to by ionizing radiations or contamination by radioactivity from any nuclear fuel, nuclear waste, combustion of nuclear fuel, or any nuclear weapons or materials. For the purpose of this exclusion, combustion includes any self-sustaining process of nuclear fusion.

National Standard Fire and Special Perils Policy: FAQs