Fire Insurance

Fire-related accidents are in the headlines ever so often. In a recent incident, a fire led to the death of peoples and severely damaged the building

Owning a business, one is always susceptible to risks. A fire eruption doesn’t only cause massive financial damage, but it is also really daunting to deal with the aftermath. Here’s why having Fire Insurance is a wise decision.

What is Fire Insurance Policy?

Insurance that offers protection of your property against fire-related damages is called ‘Fire Insurance’. However, this insurance is completely different from property insurance where the inclusion list includes the expenses incurred during reconstruction, repair or replacement of not only the insured property, but also nearby affected structures if any. Other coverages include damage to the personal property other than the insured and expenses of those who are affected due to the property damage.

Scope of Fire Insurance Policy

• Fire insurance offers complete protection against damage, due to fire explosion, caused to movable or immovable property.
• Fire insurance includes damages to the properties including an office building, furniture, plan, stock, machinery etc.
• Other than fire perils, this policy also includes damages due to natural disaster, landslide, explosion, bursting of water tank etc.