Askari General Insurance Company Limited, AGICO, was incorporated in 1995 with the vision to lead the market. AGICO is a Public Limited Company (PLC) listed on the Pakistan Stock Exchange and supervised by the Securities and Exchange Commission of Pakistan (SECP). Since its inception, the company has progressed by leaps and bounds.

Our Address

3rd Floor, AWT Plaza, The Mall, Rawalpindi, Pakistan

Phone Number

051-111-444-687

051-8848100-2

Email Address

info@agico.com.pk

agicoho@agico.com.pk

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What is covered under fire insurance policy?



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Fire Insurance Guide

Protecting your property against fire

What fire insurance covers, the packages available, and who's eligible to get protected.

Fire insurance policy is an agreement between the insurance company and insurance buyer, under which the insurance company guarantees to cover and pay for the damage caused by fire to property or assets. The reason for fire could be any accidental explosion, electric spark or gas leak, etc. Askari General Insurance is Pakistan's leading insurance company that provides fire insurance policy to companies and organizations by paying for their losses and damages to property caused by fire.

Under this insurance policy, Askari General Insurance covers the cost of replacement, reconstruction and repairs. Along with these, further coverage under fire policy includes:

  • Earthquake
  • Fire explosion
  • Damage to aircraft because of fire
  • Any damage caused by riots and strikes
  • Any burglary

Agico also provides multiple policies and packages, such as:

Household Comprehensive Policy

This policy covers residential units, their constituents, any valuable assets, and even personal accident cover.

Shop Owners Comprehensive Policy

This policy is designed to cover small shop owners and retailers, and covers their loss and damage caused by fire, their business money, plate glasses, infidelity, etc.

Fire accidents are always unexpected but always cause huge destruction to life and property, resulting in huge financial losses. Business owners are always prone to such risks, and any eruption of fire may cause damage beyond control and losses difficult to recover.

It's important for business owners to consider buying fire insurance plans from a good insurance company, since a fire insurance policy provides comprehensive protection against damage caused by fire eruption or explosion to assets or property — including office property, furniture, machinery and hardware, and losses from natural catastrophes like earthquakes.

A fire insurance policy is a unique product that many people avail for their businesses to keep the risk of loss at bay. Here are the key characteristics to help you make an informed decision:

Good will and good faith

It's important for both the insurance policy buyer and the insurance company to disclose all facts and figures. Revealing all facts at the time of policy initiation helps the insurance company craft a policy from which maximum benefits can be drawn.

Indemnity

Under this policy, the insurer is liable to cover all losses and damages caused by an outbreak of fire under whatever circumstances are agreed between both parties. If the root cause of fire is natural heating, lightning, or negligence like cracks or a leaky roof/walls, the fire policy becomes void. Fire explosion and fire to aircraft are also covered under this policy.

The given eligibility criteria will help you know whether you can avail this insurance:

  • If you own a business and wish to prevent any unforeseen damage to your commercial property, you're eligible.
  • If you possess any building, residential or commercial, you're eligible.
  • If you're a shopkeeper and wish to prevent any loss to your shop or goods, you're eligible.
  • If you're a hotel owner and your building is at risk because of fire, you're eligible.
  • If you're a manufacturer and your factory needs prevention, you're eligible.