Fire Insurance

Fire insurance covers damage or loss to a property because of fire. It is a particular form of insurance in addition to homeowner’s or property insurance, and it covers the cost of replacement and repair or reconstruction above what the property insurance policy covers. It covers damage to the property, and may also cover damage to nearby structures, personal property and costs because of not having the capacity to live in or use the property if damage occurs.

This insurance offers safety against the risks fires render.It helps insurance holders in recovering financially as well as emotionally. It can provide the following benefits to the insurance holders: Replacement of Contents, Provisional Housing, Rebuilding of the Damaged, Preventive Measurements.

Fire Insurance is a service rendered by the insurance company, whereby an Insured is protected against direct loss by fire and lightning. 

Risk is the chance of loss. If loss is absolutely certain to happen or not to happen,no risk is involved.
Hazard is the condition, which may create, decrease or increase the chance of loss froma given peril.
Peril is the contingency, which may cause a loss. It may be covered or excluded bypolicy of insurance.
Earthquake Fire covers loss or damages caused by fire following an earthquake.
Earthquake Shock covers loss or damage (other than fire) occasioned by or through in consequence of earthquake.
Riot, Strike & Malicious Damage covers loss or damage caused by:

• Strikers and locked out workers
• Persons disturbing the peace
• Lawful authorities acting to suppress/ prevent the disturbances

Broad Water Damage with Bursting or Overflowing of Water Tanks, Apparatus or Pipes covers loss or damage caused by the bursting/overflow of the water system.

Underinsurance Happens when the total sum insured is less than the actual value of the property.

Replacement Value Cost to fully replace your personal property today if it is damaged, destroyed or lost

Sound Value Replacement value less depreciation.