Property insurance cover ensures that safeguarding property against unforeseen risks and damages is protected. PMMI offers the below policies under Property Insurance namely for Fire and Industrial Special Risk (ISR).

1. FIRE

Fire insurance policy is property insurance, which covers the damages and losses caused to a residential or business property due to fire. It provides financial protection against losses and damage caused by fire alone. It also covers individuals and businesses as it can help to protect their assets and mitigate the financial impact of fire-related incidents.

2. INDUSTRIAL SPECIAL RISKS (ISR)

An Industrial Special Risk policy is a broader and robust form of business insurance which provides a more suitable level of indemnity for organizations who have high value assets and multiple properties.ISR insurance is designed to protect your business property and consequential loss against damage from perils. One of the benefits of an Industrial Special Risk policy is the larger level of cover it provides for your property.

Depending on the type of insurance cover, the respective policy will pay reinstatement or replacement costs depending on the nature of the loss incurred. Thus, meaning if the building is wholly destroyed by an event or circumstance covered by the policy, we will replace it or if the building is not wholly destroyed, we will repair to a condition which is equal to but not better than the conditions it was when it was new.

Policy coverage is for all policies under the Property Line for a 12-month period.