InvestorQ : fire insurance provides cover for
prathmesh made post

fire insurance provides cover for

Nikita Damle answered.
9 months ago
Fire insurance can be attained in two ways, either as an extension to property insurance or it can be purchased as an individual insurance policy. Destruction to property as a result of fire is covered under fire insurance. Anything destroyed and has to be replaced, reconstructed or repaired is compensated by the insurance company.

Payment to fire fighters, loss of goods, any damage caused to the surrounding property as well as in cases of houses, costs for separate accommodations to the holders are provided under fire insurance. As damages due to the fire can be quite huge, the expenses covered by the insurance company has a maximum limit. There are different types of policies issued based on the requirements of the company. Certain policies determine the value of the property when the insurance is being set in place. Only the set value is repaid to the holder.