Property All Risk Insurance
Cover for your property against any loss that is not specifically excluded.
Wider than a fire policy
Property All Risk covers sudden and unforeseen physical loss of or damage to your property from any cause, except those specifically excluded. A standard fire policy covers only the perils it names. We arrange it with insurers in the Maldives.
What can be insured
- Buildings, including landlord’s fixtures and fittings
- Furniture
- Plant, machinery and equipment
- Stock
The two sections of the policy
Material damage
Physical loss, destruction of or damage to the insured property, from all causes except those specifically excluded.
Consequential loss
Loss of income, as gross profit and standing charges, while the business is temporarily closed after insured damage.
Examples of what is covered
- Accidental damage
- Fire, lightning and explosion
- Storm, flood and earthquake
- Theft by forcible entry
- Water damage from burst pipes and tanks
- Impact by vehicles or aircraft
Optional extensions
- Removal of debris
- Machinery breakdown
- Professional fees
- Glass
What is not covered
- War and acts of war
- Nuclear radiation or radioactive contamination
- Wilful act or wilful negligence of the insured
- Wear and tear and gradual deterioration
Other exclusions apply, as set out in the policy terms and conditions.
Two things worth knowing first.
- All risk does not mean every risk. The exclusions define the cover, so read them with us before you buy
- Some property is excluded unless you declare it, such as jewellery, money and goods in transit
For a quote
Send us four things.
- Your company registration certificate
- The property registration
- Pictures of the items to be insured, and a valuation report if you have one
- Annual gross profit figures, if you want consequential loss cover
Common questions
- What is the difference between property all risk and a fire policy?
- A fire policy covers only the perils it names. Property all risk covers sudden and unforeseen loss or damage from any cause except those specifically excluded, which adds accidental damage, theft by forcible entry and water damage among others.
- Does property all risk cover loss of income?
- Yes, if you add the consequential loss section. It pays gross profit and standing charges while the business is temporarily closed after insured damage. Seguro needs your annual gross profit figures to price it.
- Does “all risk” mean everything is covered?
- No. The exclusions define the cover: war, nuclear risks, wilful acts, and wear and tear are out, and some property such as jewellery, money and goods in transit is excluded unless you declare it.
How to claim
Tell us
Contact our Claims Hotline or email us as soon as a claim arises.
We guide you
We advise you on documentation and communicate with the insurer.
We follow it through
We monitor the claim’s progress and check the settlement is in line with your policy entitlements.
This page is a summary. Cover is subject to the terms, conditions and exclusions of the insurer’s wording, which prevails. Seguro is a broker and arranges cover with the insurer.
