> Property All Risks LM7 > Frequently Asked Questions
Property All Risks LM7
Frequently Asked Questions


What is an LM 7 policy?


LM7 policy wording stands for London Market 7 wording. it is a full comprehensive property policy with listed excluded risks. 



What is the difference between LM7 and Fire & Named Perils?


There is 2 major differences:


  • LM7 covers claims resulting from direct or indirect hits to the property; where as the Fire & Named Perils policy covers claims resulting from a direct hit only such as a direct hit of a thunderbolt to the property and not fires due to a thunderbolt hit on the main electrical supply of the beighborhood.

  • LM7 policy covers, in addition to the fire and allied perils policy,
    • Forest Fires
    • Theft by Force
    • Hold Up
    • Accidental Damages to property
    • Strikes / Riots and Civil Commotions


  • Under LM7 NON - Occupation clause might be extended upto 90 days where it is only granted for 21 days under the standard fire policy

  • The LM7 policy has a scpecific list of excluded risks whereas the Fire and Named Perils policy has a specific list of the covered risks




Is the Property All Risks policy alot more expensive than the standard fire policy?


Not necessarily, no. it depends on the risk and the total sum insured. In general, the difference in premium is minimal comparing to the additional benefits provided.