Fire insurance protects against fire-related financial losses and property relocation.
Overview of Fire Insurance Coverage
Fire insurance provides financial protection against losses resulting from fire, lightning, and the need to relocate property from premises at risk of fire, with the insurer agreeing to reimburse the insured for a fee in such circumstances.
What is the importance of having Fire Insurance?
A fire insurance policy provides additional coverage for structures damaged or destroyed in a fire.
Fire insurance may be capped at a rate that is less than the cost of the losses accrued, necessitating a separate fire insurance policy.
Accident &
sickness medical expense reimbursement
The policy pays the policyholder back on either a replacement-cost basis or an actual cash-value basis for damages.
Although some homeowners insurance policies include fire coverage, they may not be extensive enough for some homeowners.
