What is Property & Fire Insurance?
Fire insurance protects business assets such as buildings, machinery and equipment, fixtures and stock against fire, lightning and explosion as basic cover, and can be extended with earthquake, flood, storm and business interruption cover. Industrial all risks policies cover all risks other than those specifically excluded.
A fire or natural catastrophe damages not only your physical assets but also your production and sales. A well-designed property policy therefore requires sums insured that reflect real values, extensions that match the risk profile of the business, and business interruption cover for lost income.
At Kum Sigorta we review the risk structure of your facilities, work with you on valuations that eliminate the risk of underinsurance, and present named-perils or all risks quotes depending on your needs.
What is covered?
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Fire, lightning and explosion
Main cover for damage to buildings, machinery, fixtures and stock.
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Earthquake and volcanic eruption
Earthquake damage as an extension for commercial and industrial premises.
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Natural catastrophes
Damage from flood, inundation, storm, hail and snow load.
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Escape of water and smoke
Water damage from installations and smoke damage.
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SRCC and terrorism
Strikes, riots, civil commotion, malicious damage and terrorism.
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Business interruption
Gross profit and standing charges lost while operations are halted after an insured loss.
Optional extensions
- Debris removal costs
- Loss of rent and increased cost of working
- Glass breakage
- Burglary
- Electronic equipment and machinery breakdown (combined)
- Impact by land vehicles and aircraft
- Neighbours' and tenant's liability
Who is it for?
- Manufacturing plants and factories
- Warehouses, logistics centres and bonded warehouses
- Owners of offices, office towers and commercial buildings
- Hotels, shopping malls and venues open to the public
- Trading businesses with high stock values
Information needed for a quote
Sharing the following information lets us obtain fast and accurate quotes from several insurers.
- Risk address and business activity
- Separate sums insured for buildings, machinery, fixtures and stock
- Construction type, number of floors and fire protection measures
- Survey/risk report (if any) and claims history for the last 5 years
- Annual gross profit for business interruption
Frequently asked questions
What is the difference between fire insurance and all risks?
Fire insurance covers the perils named in the policy (fire, lightning, explosion and added extensions). An all risks policy covers all sudden and unforeseen physical damage except what is specifically excluded, offering broader protection for large facilities.
What is underinsurance and why does it matter?
If the sum insured is below the real value of the asset, the indemnity is reduced proportionally at the time of a claim. Setting building and machinery values at current reinstatement cost is therefore critical.
What does business interruption cover?
It covers the gross profit lost and the standing charges you keep paying while your operations are stopped or reduced due to an insured loss such as fire, for the indemnity period set in the policy.
Is DASK enough for my business premises?
DASK (compulsory earthquake insurance) only applies to residential buildings and offers limited cover. For offices, factories and warehouses, earthquake should be added as an extension to the fire policy.
Scope of cover and limits are determined by the general and special conditions of the issuing insurer.