Insurance of property means that the damages of buildings, machines, stock, and another asset that is insured and other related risks and dent risks are getting coverage. Several types of property insurance offer cover for your insured property or asset.

The goods transported by sea, air, railway, roads, and couriers can be insured under Marine cargo insurance. The vessel can be insured under Marine Hull Insurance, plow (ships and boats).

In addition, particular policies like aviation insurance policy for aircraft and helicopters are also available. Therefore, property insurance is a very comprehensive cadre of general insurance and the type of property insurance cover your needs depending on the type of property that you want to cover.

Property Insurance Policies

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Here Are The Types Of Property Insurance Policies Discussed In Details


Marine cargo insurance covers a combination of transit from water, air, road or railroad, registered postal parcel, courier or more.

Who Can Take The Marine Cargo Insurance Policy?

Buyer, Seller, Import / Export Trader, Buyer Agent, Contractor, and Bank etc. can buy Marine Cargo Insurance policy.

Marine cargo insurance policy covers the benefit of the cargo and the cover can be extended to the benefit of a third party.

How Marine Cargo Insurance Is Helpful?

Cargo can be damaged due to exposure to various types of risks, including the car carrying the cargo, crashes, shocks, and damage to cargo by shaking etc.

Decide whether you want to take a necessary cover or take a more comprehensive cover. Please read the terms and conditions of the policy thoroughly. Check whether there are some ‘deductible’ in it.


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Packages or umbrella covers are available which provide many types of cover under the same document. For example, the cover of Planet Owners Policy, Shopkeeper Policy, and Office Package Policy etc. are available. Also various physical properties, such as buildings, items etc. are covered in this kind of policy.

In addition to covering the property in such policies also covers certain private lines or liabilities. The coverage and exclusions that are under consideration of the policy you are considering must be well-understood. The terms and conditions for the package or umbrella covers for all sections may be the same and specific conditions for the particular section of the policy may also be specific.


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Fire Insurance protects against unexpected loss or destruction or damages of property due to the policy and other crises (disasters) covered in the policy.

  • Accommodation
  • Offices
  • Shops
  • Hospitals
  • Industrial
  • places of worship,

And their objects in various types of properties that can be covered under fire insurance policies.

Production risks and their items such as

  • Machines
  • Plants
  • equipment
  • and accessories

Goods, in which factories, warehouses, and raw materials kept in open spaces, under-inventories, finished goods, semi-finished goods, packaging materials etc.

Risks for useful facilities located outside the industrial / production units; Risks of storage outside the industrial premises; Includes the tank form/gasholder etc. located outside the industrial premises etc.

What Is Covered In Fire Insurance Policy

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What Is Covered In Fire Insurance Policy?

Although it is called ‘Fire Insurance’ but in addition to the risk of fire, the cover is also offered against various other crises including:

  • Electricity explosion
  • Aircraft damage
  • Riots
  • Strikes
  • Malicious damage
  • Hurricanes
  • Cyclones
  • Tornadoes
  • Floods
  • Collision loss
  • Erosion of landslides, including:
  • Sloping of rocks
  • Bursting of reservoirs
  • Appliances and pipes burning
  • Automatic sprinkler accidental leakage of installations
  • Forest fires, and so on.

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What Is Excluded In Fire Insurance Policy?

A certain quantity is known as ‘excess (access)’ is often not covered in fire insurance policy. Executions (excluded) due to

  • War
  • And war-like proceedings
  • Nuclear crises,
  • Pollution or contamination,
  • Mechanical malfunction
  • Electrical malfunction

The payment of an additional premium will cover some dangers, such as the earthquake.

Fire insurance policies are issued for one year in which the accommodation is not included because the policy can be issued for a more extended period (for a minimum period of three years).

Some other property insurance is available in the form of electronic insurance, machinery breakdown insurance etc. in the form of engineering insurance policies.


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A burglary insurance policy can be proposed for a business venture or a home. In this policy, the assets kept in the premises are covered, which include stock/goods, or assets kept in trust, if explicitly covered. It covers cash deposit, valuables, securities, or lock-in steel closet if you specifically request it for it.

In addition to providing cover for the items kept in the premises, the burglary insurance policy is also covered in the burglary during the theft or during a theft of stolen property. Under the policy, till the extent of the sum insured, your insured property is paid for actual loss or damage due to burglary.

If the Sum Assured is not sufficient, then an only proportional loss is paid under the policy. Therefore, you must make sure that the value of your covered property has been appropriately evaluated so as to ensure that there is no need to cover the insurance under necessary insurances.

The burglary insurance policy can usually be extended to riots, strikes, malicious damages, and other theft.

What Does The Burglary Insurance Policy Involve?

Usually, under this policy, the goods kept in trust/commissions are not paid for loss or damage caused, if it is not explicitly covered, especially when not covered, ornaments, ancient things, business books, selling for deeds etc.


All risk insurance is usually provided for jewelry and portable equipment. This cover is often given selectively. The plan of the strategy can be different from one company to another company. So, it’s very significant to note that all risk insurance policies are not exempt from exclusions. Therefore, ‘all risk’ does not mean that everything will be covered in the plan.

What Is Commonly Excluded In All Risk Insurance?

Extended security can be availed by mechanical and/or electrical/electronic breakdown by payment of additional premium.