Fire & ALLIED PERILS Takaful (Property Takaful)
This is the most important form of Takaful which is essential for all types of business concerns. Providing covers in respect of loss of or damage to the property against the following perils:
- Fire & lightning - loss of or damage to the property (building, stocks, contents, furniture, fixture & fittings) directly caused by Fire & lightning.
- Riot & Strike Endorsement - loss of or damage to the property insured (building, stocks, contents, furniture, fixture & fittings) directly caused by the act of any person taking part together with others in any disturbance of the public peace.
- Malicious Damage Endorsement - loss of or damage to the property insured (building, stocks, contents, Furniture, fixture & fittings) directly caused by the malicious act of any person.
- Atmospheric Disturbance Endorsement- loss or damage to the property (building, stocks, contents, furniture, fixture &fittings) directly caused by:-
- Hail, Snow, Wind, Hurricane,
- Cyclone, Tornado; or Typhoon and/or,
- B. Rain
- C. Flood
- Earthquake Fire & Shock - loss or damage (including loss or damage by fire) to any of the property insured (building, stocks, contents, furniture, fixture &fittings) by this policy occasioned by or through or in consequence of Earthquake.
- Standard Explosion - loss or damage to the property insured by fire or otherwise directly caused by explosion, but excluding loss of or damage to boilers, economisers, or other vessels, machinery or apparatus in which pressure is used or their contents resulting from their explosion.
- Impact Damage - loss or damage to theproperty insured (building,stocks,contents, furniture, fixture & fittings) directly caused by impact damage by Vehicles resulting from actual physical contact of vehicles or with the building containing the property covered there under.
- Aircraft Damage Endorsement - loss or damage to the property insured (building, stocks, contents, furniture, fixture &fittings) directly caused by Aircraft and other aerial devices and/or articles dropped there from.
Electrical Clause ‘B’- loss or damage by fire to the electrical appliances and installations insured by item of this policy arising from or occasioned by overrunning excessive pressure, short circuiting, self-heating or leakage of electricity from whatever cause (lightning included).
Burglary - Loss of or damage to the insured contents as a result of (a) theft involving entry to or exit from the premises by forcible and violence means (b) hold-up by violence to the insured or his employees.