Property Insurance protects you, the owner, against accidental loss or damage to buildings, fittings and fixtures, machinery, furniture, stock, and the consequential loss of profits. AXA provides three types of covers to ensure your property is well protected, discover them below:
- Fire & Allied Perils Insurance
- Property All-Risk Insurance
- Consequential Loss of Profit Insurance
Fire & Allied Perils Insurance
This cover provides comprehensive protection against fires, lighting, storms, hurricanes, earthquakes, floods, impact damages, etc. The property to be insured may consist of the following assets:
- Furniture, fixtures and fittings
- Plant and machinery
- Office equipment
- Stock in trade – from raw materials to finished products
Property All-Risk Insurance
This is a comprehensive cover which offers protection against all perils. The sum insured may be either on the basis of the actual value or the new replacement value of the property. Business interruption cover can be opted as well to cover loss of profits and provide business continuity.
Consequential Loss of Profit Insurance
This cover provides business interruption protection that is designed to restore your business to the same financial position as if the loss had not occurred.
The interruption period starts from the date of the loss (two-weeks deductible) and extends to when the business’s turnover and profit levels are back to where they were prior to the loss.
It is essential that a loss of profits policy is tailor-made to meet your exact requirements. That is why, there are many optional extensions that can be added to the basic cover.
This policy also covers Loss of Gross Profit following material damage as a result of a fire, lightning, storm, hurricane, earthquake, volcanic eruption, flood, impact damage, etc. (or other insured peril) at your premises. This policy is only valid when there is an admissible claim under the Property Material Damage policy.
- Risk Consultation – we offer risk engineering, loss prevention and sophisticated risk management consultancy services to clients.
- Competitive Pricing – we give your business maximum value for money, rewarding your good claims experience.
- Flexibility – design the policy as per your needs.
- Additional Cover Extension – includes professional accountant’s charges and claims preparation expenses.