On June 2, several loud explosions echoed throughout the industrial town of Nandesari in Vadodara Gujarat, spreading panic among the nearby residents.
Over 10 fire tenders rushed to a Deepak Nitrite facility last evening when a massive fire broke out at the chemical factory. Thick clouds of smoke engulfed the region forcing authorities to relocate 700 people living in the vicinity.
Although the cause of the disaster has not been ascertained and no casualties have yet been reported, 7 workers have been hospitalised due to excessive smoke inhalation.
Considering the sheer magnitude of the explosions that took place, most of the factory’s factory assets are likely to have perished.
With a loss amounting to hundreds of Crores, is Deepak Nitrite Company equipped to recover?
Well, businesses usually get a Fire Insurance policy to withstand such catastrophes
Fire and Allied Perils Insurance is designed to cover precisely the kind of accidents that the facility at Nandesari witnessed. Fire Insurance provides financial protection against more than a dozen risks, like -
- Fire and explosions
- Natural disasters
- Riots, strikes, and malicious damage
It is one of the most affordable and widely available Business Insurance policies in India, covering fundamental assets, such as stock, machinery, plant, and building structures. It is an especially common policy among large industrial corporations that regularly run the risk of damage.
Get Fire Insurance starting at just ₹200 here!
Learn more: What does Fire Insurance provide cover for?