Before deciding upon any type of property insurance coverage, organisations must carefully consider, the type of property owned, or for which they are responsible, the types of incidents that could affect the property and the levels of risk which the organisation is prepared to take, to the extent that insurance is not necessary. This will determine the types and levels of insurance cover that will be bought from the insurance market.

Property, comes in many shapes and sizes including some we cannot even see (intangible) and most can be used in a commercial or private capacity.

• Buildings
• Houses
• Offices
• Factories
• Warehouses
• Universities
• Shops
• Shopping malls
• Contents
• Furniture
• Fixtures
• Fittings
• Machinery
• Lifts elevators escalators
• Glass
• Equipment
• Tools
• Stocks
• Finished Goods
• Raw materials
• Un finished goods
• Packing Materials
• Money
• Cash
• Bearer Cheques
• Bearer Coupons

• Profits
• Reduced or Lost profits
• Increase in Cost of Working

There is an enormous variety of property which needs proper insurance coverage.

Property insurance therefore is the mechanism by which property is protected from Perils which can and do, cause loss of or damage to such property.

Listed below are some of the most obvious perils and the list is not exhaustive

• Fire
• Storms, Hurricanes, Cyclones, Typhoons tornadoes
• Vandalism
• Earthquakes
• Lightning
• Explosion
• Riots and Strikes
• Malicious Damage
• Burst pipes, overflowing tanks,
• Damage by Aircraft or Aerial objects
• Theft
• Accidental Damage

Insurance companies have responded to the need to cover such perils by devising a range of policies such as

• Fire & Special Perils
• Theft
• Accidental Damage
• All Risks
• Machinery Breakdown
• Business Interruption
• Money