Fire insurance covers damage and losses caused by fire. Fire insurance helps to cover the risk of loss of property caused by fire accidentally or unintentionally. A fire insurance policy covers the loss that the insurer may suffer due to the destruction of or damage to property or goods, caused by fire, during a specified period and up to the agreed amount. The policy specifies the maximum amount, which the insured can claim in case of loss.
Fire insurance is important for both house and business as it helps to protect from the damages and losses caused due to fire incidents, especially in industrial sectors like petrochemicals, etc.,
