in Finance by (257k points)
What is the definition of Fire insurance? What are types of Fire insurance seen? What is Fire insurance clauses?

Please log in or register to answer this question.

1 Answer

0 votes
by (735k points)
selected by
 
Best answer

What is the definition of Fire insurance?

Fire insurance is a legal insurance contract that guarantees compensation for damages or losses against accidental loss/injury covered under fire policy. It coverage includes accidents caused due to accidental fire, lightning, implosion or explosion, etc.

Most of time, the policy is initially purchased for a period of one year and is renewed annually.


What are types of Fire insurance?

Here is list of some of types of fire insurance policies in India. They are:
  • Valued Policy
  • Valuable Policy
  • Specific Policy
  • Average Policy
  • Floating policy
  • Excess Policy
  • Declaration policy
  • Reinstatement Policy
  • Comprehensive Policy
  • Consequential Loss Policy

What is insurance clauses?

An insurance clause is a contractual provision that establishes what insurance one or more parties must procure in connection with an agreement.

Related questions

...