Policy snapshot
A traditional property insurance policy that covers damage to business assets caused by fire and a wide range of specified natural and man-made perils.
What is Standard Fire and Special Perils Policy (SFSP)?
SFSP is the go-to policy for fire and natural disaster protection, with the ability to include burglary and terrorism insurance. It provides foundational protection for physical assets.
What can it cover?
- The policy covers loss or damage to insured assets caused by fire, lightning, explosion, storm, flood, riot, impact damage, and bursting of tanks. With optional extensions, it can also cover burglary or theft, and terrorism-related damage, making it suitable for high-risk or high-value locations.
Who should consider it?
- Traders, warehouse owners, manufacturers, Builders, commercial property owners, Businesses seeking standard fire + burglary + terrorism coverage
Key features to understand
- {"heading": "Key Features", "bullets": ["Covers fire, flood, storm, earthquake, riot, and more", "Suitable for buildings, stock, equipment, and contents", "Burglary and theft cover available as an add-on", "Terrorism risk cover available with additional premium", "Ideal for residential, commercial, and industrial risks"]}
What deserves attention before you buy?
Coverage, exclusions, sub-limits, deductibles, waiting periods, warranties and underwriting can vary between insurers and policy versions. The policy wording and schedule remain the definitive contract. Novo can help you review the relevant terms for your requirement.
Read the wording, not just the brochure
The schedule and policy wording determine the actual contract.
Compare meaningful differences
Look at exclusions, limits, deductibles, conditions and claim requirements—not premium alone.
Think beyond purchase
Servicing and claims-related support can matter as much as placement.