Your house is one of the most valuable assets that you accumulate in your lifetime. It is not only your home, but also one of the main investments that you would make in your lifetime. Property Insurance is one such policy that provides coverage for all the losses incurred to your property due to any unforeseen events. It covers everything related to damages to property due to theft, fire, natural calamities etc. While property insurance covers all the liabilities, you can choose from the various features against which you want to be insured.

Types of Property Insurances and Their Coverages

Office Coverage

Such insurance policies cover everything related to your office premises. Offices and businesses are vulnerable against many damages and harms caused by theft incidents, fire, burglaries, etc. You can also avail an employee group insurance with such a policy to protect your employees from accidents and health hazards. It also covers all the risks related to buyers and suppliers during exchange of stocks and inventory. Transportation from one warehouse to another also pose risks that can be covered by purchasing such policies. Decoration and interior designing costs and any associated risks are also covered by such policies. Personal accident cover of an employee or employer can also be availed which can provide the financial assistance to their families.

Home Coverage

Home Insurance for your property like home is too much valuable when it comes to rejuvenating home after unforeseen events like earthquake, floods, fire damages etc. This Home Insurance policy protects you in terms of money which you will require to get your home back in the same condition it was before. It has various advantages because you have invested your lifetime income in building your dream home from covering you against money as well as minimizing the stress. It also covers your home things in case of theft done at your home. Home protection insurance policy can also be an good add on insurance cover to buy with home insurance policy which protects your home contents like furniture & other contents when you are on travel. 

Construction Coverage

Construction of any residential or commercial project requires to be completed in a stipulated deadline. However, the occupation of construction has several risks associated with it. Construction can be unexpectedly stopped due to a natural disaster, fire or lightening, landslides, collision with airplanes, etc. or can break down due to utilization of poor resources. In such cases, contractor can purchase construction coverage to cover the losses suffered. Construction of runways and airports, railways and tracks, flyovers, drainage canals can be covered under such policy.

Factory and Warehouse Coverage

Such a coverage can be a great add-on for businesses involved in manufacturing activities. Smooth functioning of warehouse activities can be disrupted by any unexpected event like damage to resources and goods caused by floods or fire. Sometimes businesses also suffer losses due to prolonged period of vacant storage facilities. It can be either due to lack of business or out of stock conditions. The losses can be covered by such a coverage which provides financial assistance for loss of money. Additionally, businesses dealing in other industries can also cover themselves by insuring their content, public liabilities, etc.

Engineering Coverage

Sometimes a business wants to expand their presence by moving into a wider facility or premises. These decisions require an accurate calculation of the office or resources needed. Architecture costs, assembling the machinery and plant, testing if it is working in a new place – all the costs can be covered under such a policy. It also covers for the losses incurred from the time of unloading of resources till it is properly placed on the site and is handed over and operational.

Art Coverage

Dealing in sculpting, painting, statues, musical instruments, antique art pieces, books and libraries, furniture – all the risks related to such businesses can be covered under such a policy. Risks related to the exhibitions in the art galleries and events due to theft, or fire are also included in art insurance.

Fleet Coverage

All businesses need transportation vehicles. Hence, the risks related to purchasing and maintenance of such vehicles can be covered by purchasing a fleet insurance. Any damages to the fleet of vehicles due to theft, fire or accidents are covered under this policy. It also offers any harm done to the property or life of the third-party involved in accidents.