Fire Class
In the Fire Takaful Schemes, it offers coverage to the participant’s own property; from the private residential house to the commercial warehouse. For a new commercial business applying for any fire products, risk assessment or inspection must be done by Takaful Brunei Am Sdn Bhd (TBA) in order to determine the rate and conditions to be applied for the risk. Furthermore, residential houses may not be inspected unless the sum covered exceed the B$500,000 or it involved semi-wooden and fully wooden material structure. Under this class, TBA has designed interactive products as follows:
Property to be Covered
• Building (excluding foundation)
• Plant and Machinery
• Office equipments
• Stock
• Loss of Rental
• Loss of Profit
• Project
Extension of Cover
Extension of cover for all the Fire Takaful schemes such as removal of debris, professional fees or other named perils can be arranged and granted subject to underwriting and TBA’s approval.
Products
Basic Fire
This scheme is designed to provide protection for both RESIDENTIAL and COMMERCIAL properties against a number of perils.
Objective
To provide Takaful protection against loss or damage to covered properties.
Scope of Cover
Provide coverage against loss or damage to the properties covered caused by fire, lighting and explosion.
Additional perils (optionals)
• Aircraft Damage
• Earthquake and Volcanic Eruption
• Storm, Tempest, Hurricane, Cyclone, Typhoon, Windstorm
• Explosion (Non-Industrial without Boilers)
• Impact damage excluding Owner’s Vehicles
• Bursting or overflowing of tanks apparatus or pipes
• Electrical Installations
• Riot, Strike and Malicious Damage
• Flood
Property can be covered
• Building
• Plant and machinery
• Furniture, fixtures, fittings and equipment
• Rental
• Stock in trade
Period of Takaful
One (1) year coverage
Fire and Allied Perils
This scheme is designed to provide protection for both RESIDENTIAL and COMMERCIAL properties against a number of perils.
Objective
To provide Takaful protection against loss or damage to covered properties.
Scope of Cover
Provide coverage against loss or damage to the properties covered caused by fire, lighting and explosion.
Additional perils (optionals)
• Aircraft Damage
• Earthquake and Volcanic Eruption
• Storm, Tempest, Hurricane, Cyclone, Typhoon, Windstorm
• Explosion (Non-Industrial without Boilers)
• Impact damage excluding Owner’s Vehicles
• Bursting or overflowing of tanks apparatus or pipes
• Electrical Installations
• Riot, Strike and Malicious Damage
• Flood
Property can be covered
• Building
• Plant and machinery
• Furniture, fixtures, fittings and equipment
• Rental
• Stock in trade
Period of Takaful
One (1) year coverage
Property All Risk
Accidental physical loss, damage or destruction of the property covered for commercial purposes only. It can be consider as the Comprehensive cover i.e. All risks cover which include all perils under Home Package. Under the scheme, the building owner may include their office equipments, Plant and Machinery, stocks and others that might be of interest to the owner.
Fire Consequential Loss (Loss of Profit)
The Certificate provides indemnity to either one of the following:
• Net Profit; or
• Standing Charges i.e. those expenses which continue to exist at usual levels although business has been interrupted by fire; or
• Increased cost of working e.g. overtime, rental of alternative premises or machinery
In order for participant to apply for this scheme, participant must apply either one of the commercial Fire Class product.