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 – […]

Read More

Who Should Buy Fire Insurance Policy?

Any individual, firm, organization, or institution can apply for the fire insurance policy. Given below is a list of people or entities who should buy a fire insurance policy: Owners of buildings and the owners of the content inside the building which includes artifacts, furniture, etc. Educational Institutions Shopkeepers Industrial or Manufacturing firms Godown keepers […]

Read More

How Important is Fire Insurance for your business ?

Although, you may take great caution and use all the latest technology at your business premises, the possibility of accident cannot be entirely negated. Therefore, buying a fire insurance for your business is essential as well as recommended. Here are the few points that explain the importance of fire insurance for your business: The risk […]

Read More

Type of useful covers you can add to your Fire Insurance Policy

Apart from the perils that are covered by the standard fire insurance policy, you can opt for add-on covers with your fire insurance policy to cover additional risks upon payment of the additional premium amount. The following add-on covers are available with the fire insurance: Damage caused to the stock lying in the cold storage […]

Read More

What is covered under a Fire Insurance Policy?

A fire insurance policy covers all properties— moveable or immovable, against various perils. The fire insurance policy has been renamed as the standard fire and special perils policy. Some of the properties that are covered under the policy are: Building: Both under construction and completed projects Interiors, partitions, and electrical Plant & Machinery, equipments and […]

Read More

How to file claims under a Fire Insurance policy in India?

If a misfortune befalls, take the following steps immediately: Inform losses or damages immediately to the insurance company so that a competent surveyor can come to ascertain total losses Give the estimated figures of damages Give full corporation to surveyors by giving them all the necessary documents for assessment of the loss Corporate with the […]

Read More