What does All Peril Deductible Mean?

All peril deductible clause in a fire insurance is a situation where all the risks are covered. The policy is much closer to what a comprehensive insurance policy is. In case of all peril deductible clause in a fire insurance, the insurer will cover all the risks or perils, with a deductible clause. It means, […]

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What Makes It Important to Have a Fire Insurance for Your New Office?

Congratulations for 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 fire? You might counter this question by saying that you have installed various fire safety equipments, like fire alarm, fire […]

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What Can Perils be Added to a fire insurance policy?

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 which a policyholder can enjoy at inception or during the tenure of the policy. However, the policyholder would require paying […]

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How to file a claim under Fire Insurance?

In the event of a fire accident, it is important to intimate the damage to a surveyor immediately who will help you minimize the loss and to start the procedure of filing a claim. The entire process is mentioned below: Provide a detailed account of all the properties damaged and the estimated amount Provide any […]

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What is the Scope of Fire Insurance Policy?

A 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 policy available along with office insurance policies for people in business. […]

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Tips to Buy the Right Fire Insurance Policy

Undeniably, a 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 choosing the right policy- Buy the right coverage– When it […]

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What is Contribution in Fire Insurance?

The principle of contribution was born out of the principle of indemnity in general insurance policies. It applies when multiple policies cover: The same property & The same peril In such a case, the total payable claim for the loss is proportionately divided among all the insurers based on their Contribution Agreement or conditions. The […]

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Importance of Fire Insurance Policy for Home, Office & Factory Owners

A 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. A fire insurance policy offers the comprehensive security for stocks, business buildings, home, etc. The policy offers financial security by covering losses or damages […]

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How to decide the sum insured under a fire insurance policy?

The most important aspect of a fire insurance policy is the sum insured. The sum insured, should ideally represent the market value of the property/asset. If more than one property is insured in the policy, values for each block should be provided and divided into: Stocks, Buildings Plant and Machinery, furniture, or other capital assets […]

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