1.

What is meant by fire insurance policy? State its benefits.

Answer»

Fire insurance is a contract under which the insurer in return for a consideration (premium) agrees to indemnify the insured/assured for the financial loss which the Insured may suffer due to destruction of or damage to property or goods, caused by fire, during a specified period. 

Assets, Building, property are protected. Loss caused due to fire is indemnifies.



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