Zurich Essential Fire Takaful (Detariff)
Cover your financial loss caused by fire, lightning and explosion.
Fire outbreaks can happen at your business premises any time. Such unfortunate events can incur massive losses to businesses and we understand how serious this risk can be. The Fire Takaful by Zurich is specially designed to cover the loss or damage to your property caused by fire, lightning and explosion.
Important Notice on Fire Takaful Cost Calculation
Under-insured / under-coverage for fire of your property can lead to inadequate compensation due to the application of average clause. To get a quick insurance / Takaful coverage estimate for your property (ie. residential properties, simple shop houses and shop offices), you may use the Building Cost Calculator, which is jointly developed by Persatuan Insurans Am Malaysia (PIAM) and the Malaysia Takaful Association (MTA). Do note that the calculator provides an estimate of the rebuilding cost of your property for evaluation purposes only, and does not guarantee the actual amount that the we may agree to cover your property for.
The Zurich Essential Fire Takaful is a detariffed product which covers losses or damages to your covered property i.e. your building and its contents; that are caused by fire, lightning or explosion of domestic boilers and gas used for domestic purposes only during the period of takaful.
You may extend your certificate to cover the following perils by making additional contribution:
- Aircraft damage
- Earthquake and volcanic eruption
- Storm, tempest
- Flood
- Explosion
- Impact damage
- Bursting or overflowing of water tanks, apparatus or pipes
- Bush / lalang fire
- Subsidence and landslip
- Spontaneous combustion
- Sprinkler leakage
- Goods and stock undergoing any heating or drying process
- Riot, strike and malicious damage
- Damage by falling trees or branches and objects
- First loss terrorism/sabotage
Note: You need to renew your fire takaful certificate every year.
The coverage is based on the cost of restoring the damaged property or replacing it with a property that is similar in condition to that of the time when the loss occurred.
For Your Property
The current cost of reconstructing the building back to its original form, minus deduction justified for betterment.
Betterment is an addition / alteration to your property which results in it being in a better condition than before the fire incident, for e.g. remodelling the kitchen with cabinets that are more expensive than the original cabinets.
For Your Personal Belongings
The cost of replacing a new item, minus deduction for depreciation of value due to wear and tear. Your personal belongings include appliances, furniture and clothing.
| SUM COVERED | RATING |
| Above RM 100 million | Special Rating PIAM* Technical Rating Committee will determine the special rating |
| RM 10 million - RM 100 million | Self Rating The detariffed contribution rates computed by Zurich using the self-rating structure provided by PIAM* |
| Below RM 10 million | De-tariff Rating The detariffed contribution rates are as per Revised Fire Tariff (w.e.f. March 2013) |
* Persatuan Insurans Am Malaysia
Note: Other charges include commissions paid to the takaful agent, tax or other government levies and a stamp duty of RM 10.00.
The benefit(s) payable under this product is (are) protected by PIDM up to limits. For more information, please refer to PIDM's Takaful and Insurance Benefits Protection System brochure on Zurich General Takaful Malaysia's website or PIDM's website.