Fire Insurance in a nutshell
Fire Insurance in a nutshell Riya: What Is Fire Insurance? FInvesTree: A fire insurance policy is a type of property insurance policy, which covers the damages and losses caused to a residential or business property due to fire. This policy enables the policyholder to claim compensation for costs incurred towards repairing, replacing, or reconstructing a property damaged in a fire. Since it is not possible to predict the estimation of losses due to a fire, insurance providers issue fixed-value compensations when policyholders file claims. Therefore, you get the maximum sum assured when you file your claim for fire insurance. Riya: Ok, can I buy additional Fire Insurance coverage? FInvesTree: Most policies come with some form of fire protection. Purchasing additional fire coverage helps to cover the cost of replacement, repair, or reconstruction of property above the limit set by the property insurance policy. Fire insurance policies typically contain general exclusions such...