A household policy covers a comprehensive or wide range of perils. The typical insured perils met in household policies are fire, lighting, explosion, hurricane, earthquake, volcanic eruption, flood, theft, riot, strike and malicious damage, bursting and overflowing of water tanks, apparatus or pipes, impact by vehicles or aircraft or aerial devices, damage by breakage or collapse of television or radio antennae.
Cover is provided in respect of loss or damage to the insured's household goods and personal effects caused by an insured peril. Insurers normally require details pertaining to electronic equipment and for jewellery a valuation is required. Property used in connection with a trade, profession or business is not covered.
1. The fire commercial policy is issued to business concerns and covers commercial property such as buildings, stock in trade, furniture, fixtures and fittings and plant and machinery. Where an insured chooses a 'fire only' policy, such a policy covers the property against the perils of fire, lightning and explosion of gas used for illuminating or domestic purposes.
2. Special Perils, where the insured wants to cover the property against more perils than that given under a 'fire only' policy he may choose from a wide range of perils such as flood, hurricane, tornado, windstorm, earthquake and volcanic eruption, riot and strike, malicious damage, explosion, spontaneous combustion, subterranean fire, impact, burst pipes, bush fire, smoke damage.