Fire Insurance for Hospital Benefits And Coverages

Mishaps like a fire at the hospital or your clinic can cause a financial burden for you. However, fire insurance will ensure peace and protection for its policyholders. Keep reading to find out the benefits, inclusions, exclusions, and more details on fire insurance for hospitals.

How does Fire Insurance For Hospitals Work? 

Fire insurance is an asset that provides financial protection for loss or damage that happens to the property of an individual. Many general insurance companies provide fire insurance policies. You can compare and select the one that provides enhanced coverage at an affordable premium. Fire insurance for hospitals provides coverage for various mishaps like fire, specific natural calamities, lightning, explosions, and other damages. 

Benefits of Buying Fire Insurance? 

If you own a hospital or clinic, then you must invest in fire insurance plans for the following reasons:

• Peace of Mind: A fire insurance policy brings peace of mind to you. If mishaps like a fire happen to your hospital, an insurance company will compensate the loss or damage up to the sum assured you choose. 
• Financial Protection: Another major benefit of purchasing fire insurance is that it ensures financial safety against severe loss or damage. Fire damage can make you financially unstable, but an insurance policy will ensure that you don’t have to bear the hefty damage cost. 
• Enhanced Protection: Fire insurance provides comprehensive protection to its policyholders. For instance, the policyholders can claim their fire insurance for damages caused by several other mishaps, such as explosions, lightning, and more. 
• Add-ons: Some insurance companies provide various add-ons that you can purchase with your base fire insurance plans. You might purchase these riders to get protection against contamination, loss of rent, forest fire cover, or architect fees. However, you may have to pay an additional premium to buy fire insurance riders. 

What is Covered Under Fire Insurance For Hospitals?

Here’s a list of perils for which you can claim your fire insurance policy during a loss or damage that happens in a hospital or clinic: 

• Fire
• Explosion
• Aircraft
• Lightning
• Specified natural calamity
• Landslide
• Water tank overflow
• Bush fire

What is Not Covered Under Fire Insurance For Hospitals?

An insurance company does not cover certain perils under fire insurance for hospitals or clinics. These include: 

• The damage happened due to nuclear perils
• Loss due to a short circuit in the hospital
• The damage caused by war or any other criminal activity
• Temperature changes causing damage to the medicines are not covered
• Natural calamities that are not mentioned in the policy document

Process To Claim Fire Insurance For Hospitals

If a fire breaks out at the office, fire insurance policyholders can claim their policy to compensate for the loss or damage to the hospital or clinic. Find out the step-by-step guide on how to claim fire insurance for hospitals in the section below: 

Documents Required To Claim Fire Insurance 

The documents required to claim fire insurance for hospital damages are listed in the section below: 

• Policy document copy consisting of schedules and clauses
• Passport-size photograph
• Fire brigade report
• Investigation report
• Newspaper evidence (if published)
• Details of previous claim history, if any

Steps You Should Follow To Claim Fire Insurance 

The following are the steps you need to take: 

• Inform the insurer about a fire breakout at the hospital.
• Download the claim request form from the official website of the company.
• Fill out the claim form completely and accurately.
• Attach the documents and submit the form to the insurer.
• The insurer will send investigators to verify the information you submit.
• An insurance company will make a claim settlement if satisfied with the information you provide. 

Conclusion

In conclusion, fire insurance for hospitals will financially protect you against the loss or damage caused by fire and other specified mishaps. To get the best-personalised advice on which property insurance policy is best for you, you can contact professional insurance advisors at InsuranceDekho.