The policy indemnifies you against damage or destruction to buildings and its contents as a result of fire and other perils like Lighting, Earthquake, Aircraft, Damage, Impact, Tornado, Flood, riot and strikes, Malicious Damage, bush Fire and Burst Pipes. Items that can be covered under this are:-

Building (including Gates and fences) of standard construction belonging to the insured or held in trust or on commission occupied as offices, private dwelling house.

1. Plant and Machinery
2. Stock
3. Office Furniture, Fixtures, Fittings, Utensils.
4. Removal of Debris
5. Rent (where building is not owned by the insured but rented, amount paid in advance for rent can be covered under this policy).

There are various discounts attached to this policy. For example, for fire fighting appliances, for reduction of risk, a Long Term Agreement to mention a few which go a long way to reduce your premium out-lay.