Fire Insurance

Protect your vehicles against losses resulting from accidents

Basic Cover

• Fire & Lightning
• Accidental Fire
• Natural Gas Explosion


Total Loss

• The insured can obtain compensation up to the amount of sum insured for total losses of or damage to the insured property.

Partial Loss

• Compensation up to the actual value of the property destroyed by fire or insured perils will be paid to the insured.

i. Riot fire, Riot Strike damage including fire and malicious damage (0.06 %)

ii. Aircraft Damage (0.10 %)

iii. Impact Damage (0.10 %)

iv. Subsidence and landslide (0.10 %)

v. Earth-quake fire, Fire and Shock damage caused by Earth-quake (0.10 %)

vi. Explosion (0.10 %)

vii. Spontaneous Combustion (0.08 %)

viii. Various Storms (i.e. Typhoon, Hurricane, Tempest, etc.) (0.20% – 0.25 %)

ix. Flood and Inundation (0.10 %)

x. Burglary (0.25% – 0.75 %)

xi. War Risk (0.10 %)

The insured is entitled to be indemnified the total loss or partial loss and benefits mentioned.

Any person who owns a property or who has a legal obligation over safety of a property can buy the coverage

Interest Insured

• Movable properties

• Immovable properties (i.e. Building, Furniture & Fitting Access, Machinery and stocks)

Premium Rating

Premium Rating is calculated based on types of construction, situation and occupation.

Minimum – 0.13%

Maximum – 3.5%

Policy Term

The term of the policy will be from 10 days to 1 year and can be renewed on a yearly basic.

Premium Payment

Premium must be paid by lump sum.

Premium is calculated based on types of construction, occupation and surrounding.

Minimum – 0.13%

Maximum – 3.50%

No Claim Bonus

A No-Claim-Bonus is a discount on the insurance premium as a bonus for not having made a claim against one’s policy.

Policy YearPremium Amount
First YearNo Bonus
Second Year25% of Basic Premium
Subsequent Years25% of Basic Premium


1) Total sum insured may depend on the building class and current market value of the property

2) Fire insurance provides coverage for the following assets based on (a) agreed value or (b) market value of the property


Stocks & other contents

Machinery equipment

On stock-in-trade

Household goods & furniture

3) The following losses of property are covered under Standard Fire Policy:

Loss of or damage to the property directly caused by water or another extinguishing agent.

Damage to the property during the removal of property from the burning building.

Damage to the property due to the demolition by the firefighters in order to deter the spread of fire.

4) Customer can also buy additional covers by paying additional premium

1. What documents are needed for fire insurance?

Ans: For Building

i. Covering letter

ii. Proposal Form

iii. Assessor Report (if needed)

iv. Copy of owner certificate (or) rental contract

v. Copy of NRC

vi. Copy of company registration (For Company)

For Furniture, Fitting Assets and Machinery

i. Cover Letter

ii. Proposal Form

iii. Detailed List

iv. Copy of invoice (or) contract (or) purchase order

v. Copy of NRC

vi. Copy of company registration (For Company)

For Stocks

i. Cover Letter

ii. Proposal Form

iii. Detailed list of products

iv. Ledger

2. How long is the policy period for fire insurance?

Ans: The insured can buy the policy period from (10) days to (1) year.

3. How much is the premium for 1 year?

Ans: Based on the building’s class, occupation and surrounding, the premium rate may vary from 0.35 % to 3.50 %. To get the exact premium amount, the proposed building will be checked by surveyors to calculate the premium rate. Premium must be paid by lump sum before policy inception.

4. When does the coverage start?

Ans: The coverage starts after the premium payment.

5. What are the fire insurance coverage?

Ans: Fire insurance basic covers:

i. Fire & lightning

ii. Accidental fire

iii. Natural gas explosion

Customer can purchase additional covers alongside basic fire cover.  Additional covers are as follows:

i. Riot fire , Strike damage including fire and malicious damage ( 0.06 %)

ii. Aircraft Damage ( 0.10 % )

iii. Impact Damage ( 0.10 % )

iv. Subsidence and landslide ( 0.10 % )

v. Earth-quake fire, fire and shock damage caused by earth-quake ( 0.10 % )

vi. Explosion ( 0.10 % )

vii. Spontaneous Combustion ( 0.08 % )

viii. Various Storms (i.e. Typhoon, Hurricane, Tempest, etc.) (0.20% – 0.25 %)

ix. Flood and Inundation ( 0.10 % )

x. Burglary (0.25% – 0.75 %)

xi. War Risk ( 0.10 % )

6. What documents are needed to bring if claim happens?

Ans: Firstly, the insured has to contact AYA SOMPO Insurance’s Claim Hotline- 09 429 305 224. Then, the insured needs to submit report and recommendation letters of Police and Fire Departments.

7. How long does it take to receive claim?

Ans: AYA SOMPO Insurance takes action as soon as possible depend on the case. Claim process will be faster if the customer submits the required documents.

8. How many times can a customer claim within a year? Is there any other benefit for those who don’t have a claim?


i. There is no limited frequency for fire insurance within a year. If there is a claim, there is no “No Claim Bonus” for an extension of next year.

ii. If there is no claim within the policy period, the renewal premium amount will be reduced by 25% on the basic premium as a “No Claim Bonus.” (Will be reduced only 25% of basic premium for the second year only)

9. What documents are needed to renew policy?

Ans: Customer needs to submit a request letter and review list. The building is inspected every three years and the product is inspected once a year.

10. Does customer need to inform the company if the insured want to change something?

Ans: Changes such as address, renovation and extension, the insured needs to inform the AYA SOMPO Insurance with letter.

11. What documents are needed to get refund or cancellation policy?

Ans: No refunds will be issued if the policy is over 6 months. If the insured want to cancel the policy, he/she must provide a written notice of cancellation to AYA SOMPO Insurance.

12. Is there door to door service?

Ans: Yes, we have door to door service. There is no extra charge for this service. However, customers must make an appointment in advance one day. Premiums can be paid through the bank. The policy contract is sent to the customer.

13. What is the difference between buying insurance via agent and personally?

Ans: There is no difference.  AYA SOMPO Insurance provides all customers the same service. The door to door service will save the insured a lot of time and effort.

14. What kind of documents do the insured need if he/she want to buy insurance from AYA Bank?

Ans: Bank will provide insurance service to customers with bank loan.

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