Property Insurance

Property Insurance

Provide compensation for damage or loss of property.

Property Insurance is an insurance that provides compensation to the Insured for any damage or loss of the insured property, caused by fire, lightning strikes, explosions, falling aircraft, as well as smoke coming from insured property fires. Property insurance includes Fire Insurance and the extension of its cover (earthquakes, storms, floods,  typhoons, etc.) and also cover for loss as a result of business interruptions caused by fire.

Type of Property Insurance products are as follows:

  1. Standard Policy of Indonesian Fire (PSAKI)

    PSAKI is a standard policy to cover the liability for any damage or loss of the insured property, caused by fire or other reasons stated in the insurance contract.

  2. Property All Risk (PAR)/Industrial All Risks (IAR) Insurance

    An insurance to cover all risks of loss (exclude some risks stated as exceptions). PAR/IAR is the most popular type of Insurance,compared to other types of Insurance, as it cover all risks of loss except some risks stated as exception.

  3. Indonesian Earthquake Insurance Standard Policy (PSAGBI)

    An insurance to cover any damage of the objects (buildings, factories, houses, etc.), caused by earthquakes, volcanic eruptions, and tsunamis.

  4. Terrorism and Sabotage Insurance (TAS)

    An insurance that give protection for any loss/damage of the insured property, caused by actions categorized as terrorisme and sabotage. The Insured can be a company and individual, direct/agency.

  5. Business Interruption Insurance (BI)

    Insurance that guarantees for loss/loss of income of the Insured’s business resulting from the occurrence of risks on the property insured or to replace the loss/lack of funds necessary to run the business caused by the occurrence of risk. Parties who are eligible as Insured are companies and individual, direct/agency.