Fire insurance policies are different types of insurance coverages that compensate any losses incurred due to a fire breakout with a sum assured. These types of insurance policy usually provide a significant amount of coverage to help both individuals and companies to reopen their places after incurring extensive damage due to fire. These insurance types cover war risk, turmoil, riots losses as well.
Different types of fire insurance in India are –
1) Valued policy
2) Specific Policy
3) Floating Policy
4) Consequential Policy
5) Replacement Policy
6) Comprehensive Fire insurance policy