Published in hindustantimes on Jun 25, 2019. The purpose of an insurance cover is to protect you financially against unforeseen events. Here’s a look at insurance covers other than health and life which can come handy. Most of you may be familiar with health insurance and life insurance policies. But did you know you can get insurance cover […]
Articles Tagged: Fire Insurance
Importance of Fire Insurance Policy for Home, Office & Factory Owners
Fire insurance is one such policy in which an individual agrees to pay a certain sum of money to the insurer in exchange to get benefits for the fire losses. The importance of Fire Insurance for Home Owners & Businesses cannot be downplayed. A fire insurance policy offers comprehensive security for stocks, business buildings, homes, […]
What are the different Types of Fire Policies Available in India?
A fire insurance policy covers losses that are caused by fire. It is a contract made between the insurer and the provider of the insurance service. A policy is available at a premium, and it covers the loss caused to the victim due to a fire. The different types of fire policies available in India […]
How to decide the sum insured under a fire insurance policy?
The most important aspect of a fire insurance policy is the sum insured. The sum insured under a fire insurance policy should ideally represent the market value of the property/asset. If insured more than one property in the policy, should provide and divide values for each block into: Stocks, Buildings Plant and Machinery, furniture, or […]
What is reinstatement clause in Fire Insurance?
Fire insurance policies often come with a reinstatement value clause in them which determines the methodology of claim settlement. The insurance company replaces the damaged property with a new property of the same type under the reinstatement value clause. The ‘New for old’ clause requires the insurance company to reinstate the damaged asset with a […]
What are the Utilities in Fire Insurance?
The purpose of a fire insurance policy is to shield you from various losses or damages which can arise after a fire accident. In this case, if you would have a fire insurance policy, you can approach the fire insurer who would settle your claim and thus, curtail your financial expenses to a great extent. […]
What are the Non-Manufacturing Risks Mentioned in Fire Insurance?
Fire insurance is an important policy that offers financial security in case of any loss or damage due to fire. Misfortunes can strike even when you have taken all the safety regulations. Therefore, it makes complete sense to go with fire insurance and secure your business from the losses or damages due to fire. A […]
What will be the cost of a fire insurance policy?
Cost of a Fire Insurance Policy Fire Insurance is the perfect protection plan for your offices, home, and any other workplace. It protects your building, assets, furniture, and fixtures against a series of perils. Claims can settle under this policy either on a market value basis or on a reinstatement value basis. So, what will […]
What is local authority clause in fire insurance?
A local authority clause in the fire insurance policy extends to cover the additional cost of reinstatement of the destroyed or damaged property that has been insured accordingly. This clause comes into effect when such an additional cost incurs. Due to the necessity to comply with the authority regulations. Such regulations can relate to the […]
Things to know about a fire insurance policy
At least six people died when a fire erupted at a four-story building of Excel Greentech, an LED packaging office in Noida’s Sector 11. It was lunchtime, and out of 40 staffers, around 15 were at the office, while others went out for lunch. So, massive was the fire, that an adjacent factory located around […]