Property/Fire & Perils Insurance
The Property or Fire & Perils section of a policy provides cover for loss or damage to property at insured situations as a result of insured events including for example accidental damage, fire, impact, vandalism, storm, tempest, flood (if available) and earthquakes. This section of the policy can be tailored to include cover for Buildings, Contents, Stock, Customers Good and Work in Progress depending on the requirements of the business.
Under insurance in this section is common and it is recommended that insurance valuations are obtained from a licenced valuer at regular intervals to ensure that the assets of the business are adequately insured. Failure to fully insure assets can have negative consequences in the event of a claim.