Business insurance

Fire & Allied Perils Insurance in Ghana

Property cover for premises, plant and stock against fire and named perils.

In brief

Fire & Allied Perils insurance protects commercial buildings, plant, machinery and stock against fire, lightning, explosion and a schedule of allied perils such as flood, storm, riot and impact. It is the foundation of most business insurance programmes in Ghana.

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What’s covered

Fire, lightning and explosion
Flood, storm and tempest
Riot, strike and malicious damage
Impact and escape of water
Buildings, plant, stock and contents
Optional business interruption cover

What’s not covered

Wear, tear and gradual deterioration
Spontaneous combustion unless extended
War, terrorism and nuclear risks
Loss discovered only at stock-taking
Property undergoing construction (use CAR)

Who it’s for — Shop and factory owners, warehouses, offices, hotels and any business with premises, equipment or stock to protect. Often required by landlords and lenders.

What does fire and allied perils insurance cover?

The core cover is loss or damage to your insured property caused by fire, lightning and explosion. Allied perils extend this to flood, storm and tempest, bursting pipes, riot and strike, malicious damage, and impact by vehicles or aircraft. Cover can be arranged for buildings, contents, plant, machinery and stock at one or many locations.

Can I add business interruption?

Yes. Fire cover pays to repair or replace damaged property, but a serious fire also stops you trading. Business Interruption cover, added to the fire policy, replaces lost gross profit and ongoing costs while you recover, so the incident does not threaten the survival of the business.

FAQs

Frequently asked questions

What are 'allied perils'?

They are the additional named risks insured alongside fire — such as flood, storm, riot, malicious damage and impact — that you can include on the policy.

Does this cover loss of income after a fire?

Not on its own. Add Business Interruption cover to replace lost profit and ongoing expenses while your premises are repaired.

Can I insure several locations on one policy?

Yes. Multiple premises and sums insured can be scheduled under a single Fire & Allied Perils policy.