It takes years to build a home, a shop, or a guesthouse. It can take less than an hour for a fire to reduce it to ash. In recent years, fire incidents have been reported with worrying frequency across the Greater Malé region and the atolls — from short circuits in ageing wiring to gas cylinder explosions in crowded residential blocks. For most affected families and business owners, the flames are only the beginning. The real disaster is what follows: rebuilding costs, lost income, and debts that can take a decade to clear.
This is precisely the gap that Allied Insurance’s Fire & Additional Perils plan is designed to close.
More Than Just Fire
Despite its name, the plan protects against far more than flames. The basic cover shields your property against fire, lightning, and the explosion of gas used for domestic purposes — the three most common causes of catastrophic property loss in the Maldives.
But the “Additional Perils” component is where the plan truly earns its place. Policyholders can extend their protection to cover natural hazards that our island nation knows all too well: tidal waves, flooding, windstorms, cyclones, and other extreme weather events, as well as less predictable risks such as impact damage from aircraft or falling objects. In a country where most of our land sits barely a metre above sea level, that breadth of cover is not a luxury — it is common sense.
What Exactly Is Covered?
The plan is built to protect the full value of a property, not just its walls. Coverage can include:
- The building structure itself — whether it is a private residence, an office, a shop, a warehouse, or a guesthouse
- Fixtures, fittings, and furniture — the interior investment that often costs as much as the structure
- Business stock and equipment — inventory, machinery, and tools that keep a business running
- Loss of rent — compensation for rental income lost when a leased portion of the building becomes uninhabitable
- Professional fees — the cost of architects and surveyors required during post-disaster reconstruction
For business owners, this last set of benefits deserves special attention. A fire does not only destroy assets — it interrupts income. Cover that accounts for lost rent and rebuilding costs means a business can plan its recovery rather than simply absorb the loss.
Flexible Protection for Every Property Owner
No two properties carry the same risk. A ground-floor retail unit in Malé faces different exposure than a beachfront guesthouse in the atolls. Allied Insurance structures its Fire & Additional Perils plan to be tailored to each policyholder’s circumstances — you insure what you need to protect, at a sum that reflects its true value.
For those who prefer Shariah-compliant protection, the same peace of mind is available through Allied Takaful. The Fire & Additional Perils Takaful cover, offered through Allied’s Islamic window, Ayady Takaful, safeguards both commercial buildings and dwelling houses against fire and related perils on a fully Shariah-compliant basis — ensuring that no property owner has to choose between their principles and their protection.
Backed by Strength You Can Rely On
An insurance policy is only as good as the company standing behind it. Allied Insurance, a 100% Maldivian company serving the nation since 1985, is backed by A-rated global reinsurers and holds the largest insurance capacity in the Maldives. When a claim comes, the resources are there to honour it.
Don’t Wait for the Smoke
The hard truth about fire insurance is that it can only be bought before it is needed. Every property owner who has lost a building without cover wishes they had acted a week earlier. The premium for a Fire & Additional Perils policy is a fraction of what a single incident can cost — and the alternative, as too many have learned, is starting over from nothing.
To learn more about the Fire & Additional Perils plan or to request a quote, visit allied.mv, use the MyAllied online portal, or call Allied Insurance’s customer care line at 1600.
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