On May 9, a massive fire erupted on the 14th floor of a high-rise residential building located near bollywood actor Shah Rukh Khan’s house Mannat in Bandra, Mumbai.
Although the exact cause of the fire is not yet known, it is speculated that it started due to a short circuit in the AC unit of a flat and quickly intensified. Around 21 residents were safely evacuated and no casualties were reported.
The Mumbai Fire Brigade is now set to issue a notice to the building due to its “non-functional” fire-fighting equipment. According to officials, if the equipment had been working, the fire could have been doused much earlier!
In a densely packed city such as Mumbai, reports of occasional fires abound– both in residential high-rises and commercial structures. But, have you ever wondered how these establishments deal with the expensive property damage?
Safety equipment like sprinkler systems or fire extinguishers are essential in minimising the spread of a deadly fire, but these often fail to work efficiently. Housing societies and commercial enterprises instead opt for another safety measure– Fire Insurance!
Fire Insurance provides financial reimbursement to businesses and homes for any damage caused to their property, including building, furniture, machinery or equipment, stock, and other items.
And coverage under this policy isn’t limited to fire! Damage caused by everything, from natural disasters like floods or storms to human damage like riots or strikes can be completely covered.
Fire Insurance has become an essential security for today’s businesses. What’s more, it’s extremely affordable!