Fire insurance provides comprehensive protection for properties against financial losses caused by fire or theft, with the flexibility to include optional coverages tailored to the policyholder’s specific needs. The types of fire insurance policies include:
FIRE INSURANCE POLICY:
This policy offers comprehensive coverage for properties (buildings and contents) against damages resulting from fire, including incidents caused by lightning, gas explosions, or spontaneous combustion. It also includes civil liability coverage for damages to neighboring properties and allows the addition of optional coverages, such as natural disasters, explosions, or other specified risks, based on the policyholder’s requirements.
THEFT INSURANCE POLICY:
Provides protection for insured properties against damages caused by theft involving forced entry. Armed robbery is excluded from coverage, in accordance with the policy’s general terms and conditions.
FAMILY PROTECTION INSURANCE POLICY:
This policy delivers all-encompassing coverage for the residence, its contents, and family members residing in the home. It protects against risks such as fire, theft, gas cylinder or boiler explosions, and water damage caused by pipe leaks, tank overflows, or flooding due to heavy rain or wadi flows.
MARINE INSTALLATION INSURANCE POLICY:
Covers risks associated with public installations located on the sea surface, such as oil and gas exploration and drilling platforms. It provides comprehensive protection against all risks specific to these installations.
ENERGY AND OIL INDUSTRY RISK INSURANCE POLICY:
This policy offers specialized coverage for oil and gas facilities located onshore. It is designed with specific technical conditions to address operational and environmental risks faced by these facilities.