Property Insurance

Protect Your Property Against Most Risks Lurking Around

It is always right to be prepared for whatever is coming along our way. We all know that incidents can happen at any time in any place. It could be natural disasters like floods, burglary, or even fires. But the good thing is you can be assured that UGIB can be your backbone when these things happen. Our property policies will cover your property and help to get your business back on its feet as quickly as possible.

Women taking keys from real estate agent and discussing mortgage after signing rental lease contract, loan, purchase agreement for new condominium and calculate the amount to be paid to the bank

Property All Risk

This policy covers all risks of physical loss, destruction, or damage to the insured property which occurred during the policy’s period and is subject to certain terms, conditions, and exclusions. This policy provides a wider coverage range than the Fire and Allied Perils insurance policy.

Property All Risks Insurance Policy is available with the following extensions:

  • Loss of profits business interruption
  • Loss of rent
  • Third-party legal liability including the landlord’s liability towards tenants and the tenant’s liability towards the landlords
  • Strikes, riots & civil commotions
  • Malicious damage
  • Accidental damage to plate glass fixed to the building
  • Expenses incurred on removing debris following the loss or damage of the insured property
  • Fire brigade charges and extinguishing expenses
  • Architects, surveyors, legal and consulting engineering fees

Business Interruption

Business interruption insurance is a kind of insurance coverage that replaces income lost when your business is temporarily halted due to events beyond your control and whatever situation your business gets into after a tragedy.

The income loss coverage may be due to natural disasters and termination of business. This type of insurance also covers operating expenses, a move to a temporary location, rent, and lease payments, loan payments, employees’ payroll, civil authority coverage, losses caused by damage that prevents access to the business area or building.

Close up of businessman hand Stopping Falling wooden Dominoes effect from continuous toppled or risk, strategy and successful intervention concept for business.
sam-ladley-2hM5_1i2k3U-unsplash
robert-harkness-RCJVTl6f_nM-unsplash

Fire and Allied Perils

  1. Fire Policy: This covers insurers against the risk of losses or damages due to fire and lightning only.
  2. Fire and Allied Perils:  this type of policy covers a number of additional perils which may differ from one policy to another, but usually includes the following perils:
  • Explosions
  • Storms, tempests, and floods
  • Earthquakes and volcanic eruptions
  • Aircraft or any other aerial devices or articles dropped that cause damages to your own or any third-party road vehicles, horses, or cattle.
  • Bursting or overflowing of water tanks, apparatus, or pipes
  • Loss of profits or the interruption of business
  • Loss of Rent
  • Third-party legal liability including the liability of landlords towards their tenants
  • Tenants’ liability towards their landlords
  • Strikes, riots & civil commotion
  • Malicious damage
  • Theft/Burglary following a forcible entry/exit from the insured premises
  • Accidental damages to plate glass fixed to the buildings
  • Removal of debris expenses following losses or damages to the insured property
  • Fire brigade charges and extinguishing expenses
  • Architects, surveyors, and legal and consulting engineering fees.

Machinery Breakdown

Machinery Breakdown Insurance particularly covers sudden and unforeseen failure of machinery and equipment that are installed and have just keep running in factories. Such failure is caused by humans, whether accidental or physical reasons when machinery and equipment are in operation.

The cover consists of loss or damages causing by machine-driven or electrical breakdown. 

machinery 1024x1024

Need help in finding the best insurance for you? Get in touch with one of our Client Care Specialist.