Fire Insurance Definition By Authors

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Fire Insurance Definition By Authors. In terms of insurance, fire damage is one of the types of coverage offered in property insurance. Insurance is defined as a cooperative device to spread the loss caused by a particular risk over several persons exposed to it and who agree to insure themselves against that risk.

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The term assurance, commonly used in england, is considered. Fire insurance definition, insurance covering any loss or damage caused by fire. The sum for which something is insured.

Fire Insurance Is A Legal Contract Between An Insurance Company And The Policyholder Which Guarantees That Any Loss Or Damages Caused To The Policyholder’s Property In A Fire Will Be Paid By The Insurance Company.

The great fire of london in 1956 destroyed 13,000 houses in four days. It covers the costs of damage to your property due to a fire. In marine insurance, the cargo or ship is the subject matter.

Some Important Articles On Insurance Policies Are Given Below.

The sum for which something is insured. Fire insurance a fire insurance is a contract between the policyholder and the insurer. Insurance against loss from damage or destruction of specified property by fire.

In Fire Insurance, The Goods And Assets Or Property Of The Insured Is The Subject Matter.

“fire insurance business means the business of effecting, otherwise than independently to some other class of business, contracts of insurance against loss. Insurance on the work at the site against loss or damage caused by perils of fire, lightning, extended coverage (wind, hail, explosion, except steam boiler explosion, riot, civil commotion, aircraft, land vehicles, and smoke), vandalism and malicious mischief, and additional perils (as otherwise provided or requested). In cases like this, you can look at a fair plan or other options.

Marine Insurance Was Useful Only To Persons Engaged In Some Kind Of Trade.

Fire insurance is a contract to indemnify the loss suffered by the insured. It is the demand made by the insured on the insurer to compensate for loss on happening of the event. Insurance is defined as a cooperative device to spread the loss caused by a particular risk over several persons exposed to it and who agree to insure themselves against that risk.

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The fire havoc can be experienced by persons of all walks of life. However, as it's not always possible to avoid the devastation of a wildfire, it's important to protect yourself financially by having adequate insurance for: Here the insurance company will pay to the policyholder any loss caused to him or his particular property when destroyed by a fire accident.

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