All Risks Insurance
In Malaysia, All Risks Insurance is used and applied in reference to business operations assets. This is different from project work and assets coverage.
See the details for for Civil Construction and Equipment Installation Projects Insurance at:
See the details for Workplace Liability and Accidents Insurance at:
These plans are treated as comprehensive coverage plans to cover perils and damages occurring during the period covered for the particular type of insurance policy.
Insurer Companies for All Risks Coverage Plans
Our experienced business insurance agents can guide you on which insurance type to use based on your requirements. They work with several insurance companies such as AIA Insurance, RHB Insurance, Allianz Insurance, Great Eastern Insurance, Generali Insurance, Liberty Insurance, Tokio Marine, MSIG, or Takaful Ikhlas, and many more to get you the best plans and prices for your requirements.
This will differ between insurance companies and their policies’ fine print. Get a reliable general insurance agent to guide you in comparing and evaluating the insurance proposals from different insurers.
All Risks Insurance Coverage
All Risks coverage plans covers damages to items and damages caused by specific perils faced by businesses and investors.
All Risks coverage plans are comprehensive coverage plans to cover losses or damages to business operations caused by fire, lightning, explosions, theft and accidental damages.
Fire Insurance plans will cover risks to commercial and residential properties and related content, caused by fire, lightning and explosions.
All Risks Coverage vs Fire Coverage
The table below show the differences in materials and items coverage by these two insurance policies. Items not covered here, can be covered by other types of insurance policies as listed in the enquiry form below.
Comparison of Items Covered by All Risks and Fire Policies
| Items Covered | All Risks Insurance | Fire Insurance | |
| Office Equipment, Furniture, Fixtures and Fittings | Covered | Covered | |
| Equipment, Plant and Machinery under Leasing | Covered | Not Covered | |
| Plant and Machinery (Static) | Covered | Covered | |
| Mobile Machines, Lifts, Hoists | Covered | Covered | |
| Building/Structure (Commercial/Residential) | Not Covered | Covered | |
| Renovations | Not Covered | Covered | |
| Renovations (not part of structure) | Covered | Covered | |
| General Contents | Not Covered | Covered | |
| Stocks, Inventory, Goods for Sale | Not Covered | Covered |
All Risks Coverage for Stocks, Inventory and Goods for Sale
An All Risks policy does not cover inventory of goods and stocks. Stored goods for sale, transit or production are covered by the Inventory, Goods and Stocks Insurance. This special all risks insurance for stored goods, covers various types of perils and risks on inventories in storage, including equipment failure and perishable goods, and other perils which are not covered by Fire Insurance plans.
Comparison of Perils Covered by All Risks Insurance and Fire Insurance
The table below show the differences in risky events and perils coverage by these two of insurance policies. These risks can happen anywhere and anytime.
| Perils Covered | All Risks Insurance | Fire Insurance | |
| Fire | Covered | Covered | |
| Lightning Strike | Covered | Covered | |
| Domestic Gas Explosion | Covered | Covered | |
| Theft | Covered | Not Covered | |
| Accidental Damage | Covered | Not Covered |
Special Perils to be Optionally Selected
The table below shows the optional special perils that can be covered by these two insurance policies. These are optional, as these risks are situational requirements based on location or business operational environment and setup.
| Additional Special Perils Coverage Options | Selection for Both All Risks Insurance nd Fire insurance | |
| Aircraft Damage | Selectable Option | |
| Earthquake, Volcanic Eruption | Selectable Option | |
| Storm, Tempest | Selectable Option | |
| Flood | Selectable Option | |
| Explosion – Industrial without boilers | Selectable Option | |
| Explosion – Industrial/Non Industrial with boilers | Selectable Option | |
| Explosion – Non Industrial without boilers | Selectable Option | |
| Impact Damage (Excluding Insured’s Vehicle) | Selectable Option | |
| Impact Damage (Including Insured’s Vehicle) | Selectable Option | |
| Bursting/Overflowing of Water Tanks/Pipes (>5 storeys) | Selectable Option | |
| Bursting/Overflowing of Water Tanks/Pipes (others) | Selectable Option | |
| Riot, Strike & Malicious Damage | Selectable Option | |
| Bush/Lalang Fire | Selectable Option | |
| Subsidence & Landslip (Standard Cover) | Selectable Option | |
| Spontaneous Combustion (Fire Only) | Selectable Option | |
| Spontaneous Combustion (Full Cover) | Selectable Option | |
| Damage by Falling Trees or Branches | Selectable Option | |
| Sprinkler Leakage (Building) | Selectable Option | |
| Sprinkler Leakage (Contents) | Selectable Option | |
| Electrical Installations | Selectable Option |
All Risks Policy Coverage and Premium Calculation
An All Risks Insurance Policy is designed to provide funds to repair, replace or make good on damages to business operations. These are damages to industrial plants, tools, machinery, equipment, fittings, computers and office fixtures, resulting from fire, lightning, domestic gas explosions, theft, accidents and other optionally selected perils such as storms, floods, bushfire, leakages and many more other perils. See the comprehensive list of perils as listed in the table of additional perils above.
The insurance proposal form will ask for All Risks compliance requirements and what exactly is the coverage of damages and perils to be covered. These proposal forms will differ significantly between insurance companies and their policies’ fine print. Get a reliable general business insurance agent to guide you on creating, comparing and evaluating the insurance proposals from different insurers.
Contact Insurance Agent for Best Insurance Proposals in Malaysia
Levine Lee has over 18 years of working experience with AIA and ING Insurance as an insurance agent and life planner. Jeffrey Teoh has over 20 years of experience with the best group insurance company in Malaysia, including Allianz. And Colin Chow is a trusted insurance agent with over 13 years of experience in the industry.
Contact LEVINE LEE, at info@redcover.com.my or +6012 684 0948. She is the focal point for initial customer contact. Jeffrey Teoh, Colin Chow, or other Red Cover insurance team members will step in to contact you depending on your insurance requirements.
Levine and her team can work with you to create the best insurance proposal and quotations to meet your needs and budget plans. The team can get you quotations from various Insurance Companies in Malaysia for your general business insurance needs.
Business and General Insurance – Request for Quotation
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