All businesses should have, at least, Property Insurance to cover physical damage to their tangible assets e.g. building, machinery, equipment, stock etc. The coverage varies from Standard Fire Insurance, which covers loss or damage caused by fire, lightning and explosion. Or, with additional premium, the coverage can be extended to cover extra perils like flood, windstorm, earthquake, burglary, robbery etc. which is called Contingencies Insurance. The other popular one is “All Risks” Insurance, which provides broader coverage than the other two forms. Coverage includes all aforementioned perils and other types of unforeseen and accidental damage. The policy does not spell out the perils covered but specifies the exclusions. As such, it is normally interpreted that losses from causes not specifically excluded are covered under all risks insurance.