The floating policy of fire insurance is a type of property and casualty insurance that provides coverage for damage sustained to real estate or personal property due to an occurrence involving fire. Policies include deductible, premium rate(s), and limits based on insured amount per item, with value/replace options. Unlike a regular homeowner’s or renter’s policy, […]
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Fire Insurance for Non-Hazardous Goods Storage
Non-Hazardous Goods Storage Fire Insurance is a specific type of insurance that offers tailored financial protection for non-hazardous goods stored in facilities in the unfortunate event of fire damage. This insurance not only covers the goods themselves, but it also provides additional safeguards for any other property that may be lost or damaged as a […]
Fire Insurance & Engineering Insurance Policy in India
A fire insurance policy safeguards your finances and provides you with financial relief in case of any damage due to fire. It also helps protect the interests of co-owners in cases where multiple people own the same property. Fire insurance plans are an important part of risk management practices for businesses as it helps them […]
Relevance and Impact of underinsurance on fire insurance claim settlement in Bharat Laghu Udyam Suraksha
Many people opt for insurance policies because they want all or most of their risks to be covered. India’s Bharat Laghu Udyam Suraksha policy ensures such protection of your business – but there are some things a person must know before getting insurance. Let us know the relevance and impact of underinsurance on fire claim […]
How Earthquake extension clause impacts the premium of fire insurance?
A fire insurance policy provides coverage against any property loss or damage in the event of a fire. The insured is protected against specific perils as outlined in their policy documents, such as fire, lightning, aircraft damage, storm, typhoon, hurricane, and more. This article will delve into the earthquake extension clause that can be added […]
Housing Society Fire Insurance Policy and Perils covered under it?
The India Risk Survey (IRS) states that fire outbreaks are the third biggest risk to business continuity and operations. According to the survey, the sudden rise in the risk of fire outbreaks is attributed to non-compliance with safety regulations and inadequately equipped fire services. This increase in risk follows closely behind information and cyber insecurity […]
What are goods held in the trust clause in fire insurance?
Fire incidents can be destructive and disheartening as they occur. Fire accidents can cause substantial emotional and financial loss. It is prudent for businesses, irrespective of the size and sector, to avail of fire insurance policy to safeguard themselves financially from the losses that may arise from fire incidents. It’s helpful to comprehend the ‘goods […]
Key Differences between Life, Marine and Fire Insurance
Life insurance, fire insurance, and marine insurance are three different types of insurance policies that provide protection against different types of risks. Life insurance is a contract between an insurer and the insured party that provides financial support to the insured party’s beneficiaries in the event of their death. The policyholder pays a premium to […]
What is a Specific Fire Insurance Policy, and when is it required?
Insurance policies have quickly risen to be one of the most necessary requirements of every individual. This is for both personal and business purposes. If you are looking to obtain a policy, it is very important you understand your needs and concerns first. Insurance policies can help in providing security as well as protection. So […]
How to increase fire insurance adoption of homes and small businesses?
SME and home insurance products have a large potential market. An easy-to-understand product that is attractively priced will help drive adoption Published in MoneyControl, Feb 24, 2021 || Written By – ABHISHEK BONDIA What is more risky to insure – 100 warehouses having inflammable chemicals in 100 drums each or one warehouse with 10,000 drums of […]