A fire insurance policy plays a crucial role by protecting the policyholder against various losses or damages which may arise due to fire. Along with the perils/expenses which are covered, there are certain coverages available that a policyholder can enjoy at inception or during the tenure of the policy. However, the policyholder would require paying […]
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What is the Scope of Fire Insurance Policy?
Fire insurance plays an imperative role by shielding you against various types of losses or damages which may arise due to fire. Moreover, a fire insurance policy can be purchased by both households and business owners. Here we are talking about fire insurance policies available along with office insurance policies for people in business. However, […]
What Makes It Important to Have a Fire Insurance for Your New Office?
Congratulations on your new office! Indeed, it is a result of your hard work and a big achievement for you. Though you might have done everything to beautify its interiors, have you protected it from the fire? You might counter this question by saying that you have installed various fire safety equipment, like a fire […]
Tips to Buy the Right Fire Insurance Policy
Undeniably, fire insurance plays an imperative role by covering your losses or damages that may arise due to fire. It is strongly recommended to buy a fire insurance policy to cover your business and here are some of the tips which will help you choose the right policy- 1. Buy the right coverage– When it […]
Things to know about a fire insurance policy
At least six people died when a fire erupted at a four-story building of Excel Greentech, an LED packaging office in Noida’s Sector 11. It was lunchtime, and out of 40 staffers, around 15 were at the office, while others went out for lunch. So, massive was the fire, that an adjacent factory located around […]
How Do the Insurance Principles Apply to Fire Insurance Contracts?
A fire insurance policy offers protection against losses or damages that may arise due to a fire accident. Like in the case of other insurance contracts, insurance principles are applicable to fire insurance contracts. Here are some ways through which insurance principles apply to fire insurance contracts – 1. The complete disclosure of information – […]
Importance of Fire Insurance Policy for Home, Office & Factory Owners
Fire insurance is one such policy in which an individual agrees to pay a certain sum of money to the insurer in exchange to get benefits for the fire losses. The importance of Fire Insurance for Home Owners & Businesses cannot be downplayed. A fire insurance policy offers comprehensive security for stocks, business buildings, homes, […]
How is Proximate Cause Determined in a Fire Insurance Policy?
Proximate Cause is an important principle of insurance, which helps in deciding how the loss or damage happens and whether it is the result of an insured peril or not. The important point to consider here is that the proximate cause is the only nearest cause and not the remote cause. It mainly revolves around […]
Different Principles Applicable to Different Types of Fire Insurance Policies
A fire insurance policy compensates the policyholder for the loss or damage that arises due to fire. It gives financial security to the insured by shielding him/her from losses or damages caused by fire. There are some principles or fundamental doctrines of Fire insurance guiding different types of fire policies under its purview. Various principles […]
Important characteristics of a Fire Insurance Policy that the policyholder should know
Fire insurance is a contract between a policyholder and the insurance company in which the insurer agrees to compensate the insured in case of loss or damage happens to a particular property due to fire. The premium is also pre-decided and the insurer compensates for the loss up to the insured amount only. Important characteristics […]