Fire Insurance safeguard property against losses or damage resulting from fire incident. it serves a protection sheild for both individuals and businesses sheilding them from financial repruciases of property destruction or damage caused by fire. by investing a fire policy individuals and businesses can mitigate the fiancial burden associated with repairing, replacing, reconstruction, their property in the event of a fire.
Why Fire Insurance Is Important?
In India fire related incident are disteringly frequent steeming from a range of causes including electrical fault and natural calamities. these calamities can inflict severe harm on both individual and business resulting in a substantial financial setback and property destruction.
Fire insurance emerges as a critical safeguard in these situation serving as a vital financial lifetime against the devastion aftermath of fire accident.
Features of Fire Insurance?
The Features-
- fire insurance offers coverage against fire incident.
- it protect various type of property from fire damage.
- Policyholder receive reimbursement for repair or replacement cost.
- Coverage limit can be tailored to specific needs.
- Business interpreternation coverage compensated for lost income.
- Standard Fire & Special peril – this is a type of fire insurance contract between the insured and insurer that provide coverage for the loss or damage caused to building, plant & machiney, stock or other assest for a sum insured exceeding 50 crore.
- Bharat Shooksham Udayam Suraksha – this policy provide coverage for the loss or damage caused to the building, property, plant & machinery, stock and other assest for a sum insured up to 5 crore.
- Bharat Laghu Udyam Suraksha – this policy provide coverage for the damage and destruction caused to the building, property, plant & machinery, stock and other assest for a sum insured between 5 crore to 50 crore.
