On 17 Jan 2022, a massive fire broke out at the Secunderabad Club, one of the five oldest clubs in the country, located in Telangana.
Founded by the British in 1878, the heritage club was mostly built on wood, which made its structure highly flammable. It took firefighters hours to get the blaze under control.
Witnesses claimed that the fire started in the bar and quickly spread to other areas, completely ravaging the billiards room, the staircase, the ballroom, and several other quarters.
Although there were no casualties, around 50,000 sq.ft. of area was damaged due to the fire, amounting to more than ₹25 Crore in losses.
That's a lot of money. But the club may not have to pay all of it.
With the help of a Fire Insurance policy, the club can get most of the property damage covered!
Fire Insurance indemnifies a business for any loss or damage caused by the risks of a fire, explosion, lightning, natural disasters, and a lot more!
Damage to a business’s buildings, furniture, equipment, stock of goods, or any other insured item can be completely covered under this policy.
With annual premiums starting from as low as ₹200 for 1 Lakh Sum Insured, Fire Insurance is one of the cheapest insurance policies out there!
Although it is not clear exactly how much the Secunderabad club will get in a pay-out, its more than 8,000 members hope it’ll be enough to restore it to its former glory.
Fire Insurance covers a lot more than just fire! Read about the January 2022 Student Riots in Maharashtra and how Fire Insurance can help against property damage
Read more: What does Fire Insurance cover?