What is Escalation Clause in Fire Insurance?

An escalation clause or phrase in a fire insurance contract effectively allows for an increase in the sum insured to cover any unexpected costs which may arise from fluctuations. It simply means, that should inflation increase the price of items, for instance, these costs will be covered under a fire insurance policy as well. While […]

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What is Excess Policy in Fire Insurance?

The purpose of a fire insurance policy is to offer you financial coverage in case of loss or damage due to fire and related perils. At the time of taking a fire insurance policy, you would have to compute the price of the items which you want to cover. However, the prices of these items […]

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What are the Moral Hazards in Fire Insurance?

The purpose of a fire insurance is to offer you financial coverage in case of loss or damage due to fire. Further, a fire insurance policy comprises of hazard, which is a condition which increases the chances of risk in an insured peril. There is a physical hazard and a morale hazard; here we are […]

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What are the kinds of fire insurance policies for a start-up?

If you are a start-up, it is essential to buy a fire insurance policy which plays an imperative role by covering your business against various losses or damages. There are various factors which you should consider in order to choose the right kind of fire insurance policy. Here are the important parameters which should be […]

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What are the Non-Manufacturing Risks Mentioned in Fire Insurance?

A fire insurance is an important policy which offers financial security in case of any loss or damage due to fire. Misfortunes can strike even when you have taken all the safety regulations. Therefore, it makes complete sense to go with a fire insurance and secure your business from the losses or damages due to […]

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