What is Fire Insurance ?

Hey guys welcome to in this blog. we would be covering the topic fire insurance this blog is a part of general insurance modules. so I recommend you to see all other related blogs to this.

 What is Fire Insurance ?

so let's start with the introduction fire insurance is a form of general insurance which covers and compensates for losses and damages to property incurred by fires.

so in case any damage or loss financial loss which you have incurred because there is some sort of catch of fire which has damaged your property. so that would be compensated and coverage would be provided if you have taken fire insurance policy. so fire insurance is a form of general insurance.

Now all that is non-life is considered as general insurance. for example Boekel insurance and then health insurance, marine insurance.

All those are non-life are considered as general insurance and Fire insurances one such type. so it provides you compensation in case in case if there is any damage to your property by fire outbreak when a property is covered by fire insurance. the insurance company will pay out in the event of loss as covered under policy.

Now it becomes important because whenever there is a catch of fire you can't estimate the losses because fire can destroy a lot of your property and it may outbreak at a vast amount. so you may incur a huge amount of financial burden which won't be certain for you to pay at any particular point of time.

so it's better to take fire insurance which will provide you compensation in case any such event occurs after estimating the loss amount and depending on the policy which you have taken fire insurance first came into existence after Great Fire of London and 16th century.

so this was the origin from where fire insurance came into existence in it which was a historic moment when Great Fire of London occurred it was very devastating and very destructive in sixteenth-century which killed about 70,000 to 80,000 of inhabitants after the fire broke from a shop and it is spread across the cities and created a lot of destruction.

so after that fire insurance came into existence and it became necessary of everyone to get it to safeguard against any such losses.

The Coverages and Exclusion.

now let's see the coverages and exclusion. so what all perils are covered under fire insurance. so first is lost due to fire any loss which is cast you to fire you can that would be covered under fire insurance policy fire due to lightning.

now if lightning outbreaks and any fire occurs to your house to your property damages. so that would be covered as feral against fire insurance policy. then any explosion any bomb explosion and any sort of chemical explosion which is causing fire that would be covered aircraft damage.

so many a times aircraft damages causes vast fire explosion which creates a lot of destructive property damages. so that is also covered under fire insurance policy. now any fire caused during riots and strike. so the people here this doing riots and strikes.

what happens the vehicles are put at fire which causes damages to many people's property. so that would also be insured against fire insurance policy if there is any missile testing failure causing fire any bush fire or maybe fire due to not natural disaster creating a devastating impact on people's life so that all things are covered under fire insurance policy depending on the policy which you have taken as fire insurance will safeguard the property you wanted to safeguard against.

then let's see what all are the exclusions so any loss or damage caused by vaad so any uncertain event like war happens and loss or damages caused by the war. so that won't be included in fire insurance policy because that is very unexpected event which is not considered in fire insurance policy and if it occurs it causes a high amount of devastating effect which cannot be compensated by Sharon's company's loss or damage caused by nuclear activities.

so again it creates such a havoc and devastating effect which is spread which is spread at a hues across the cities and countries. so it cannot be covered under fire insurance policy loss or damage to the stocks and coal storage caused by change in temperature that doesn't comes under insurance policy coverage loss or damage due to over running or electric or over running of LA of any electronic machines.

so that is also not covered under insurance policy.

Fire insurance claim procedure.

now let's see fire insurance claim procedure. so any individual who is insured who has taken the fire insurance policy must inform insurance company as early as possible either online or by calling on the toll free number which is 24 by 7 available so that is the first step which you must took in case there is any fire outbreak in your home or any short of your saw business or property. so you must first ensure to inform the insurance company as early as possible.

second is you should contact the fire brigade and the police, so that the whole area of fire can be suspected and it can be the further procedure can be carried out. so second thing is you must contact the fire brigade and the Police.

third is provide relevant information to the software or claim representative appointed by the insurer so as soon as you would be contacting your insurance company. they would be sending servire somewhere would be someone from insurance companies side who would be coming and the answer being the whole loss amount that you have incurred due to fire explosion.

so what all damages has been occurred what properties has been cast by fire and what all sort of things you have lost due to that fire outbreak. so that all would be surveyed by that claim representative and he would find out the estimated amount of loss that you have incurred in all those damages these are then analyzes the extent and value of loss or damage as I already mentioned submit the newly filled in claim form and other proofs and photographs.

so after that these always completed you can submit that you refilled claim form which will mention that you are asking for such a claim amount because you have according to the policy you have incurred that file loss the loss due to file and thus because you have taken fire insurance.

you will be filling out the claim form and you'll be asking for the coverage amount with the insurance companies obliged to pay you the claim process takes anywhere between one to three weeks to estimate the coverage amount to be provided. so generally it will take this much of time it depends on the insurance company and their procedure as well and they then you would be provided with the coverage amount to cover you come compensation the loss and damages which you have incurred due to the outbreak of fire in your property house or any other area so what are precautions to avoid fire losses.

so that was in case you have incurred fire losses and you have taken insurance.

What are things you could do to avoid any short of fire losses.

so that will be safeguarding you by providing financial compensation but here to avoid. what are things you could do to avoid any short of fire losses. so first is provide adequate means of escape. so that the disaster does not impact a lot.

so bottle precautions you could take so that the impact is less. so first is you should provide adequate means of escape so mainly you have seen in shopping malls and mini sad shoe business outlets where there is emergency exit made. so that is because in case if there is a fire outbreak there there can be areas to escape which would be reducing the damages to life of people.

then install smoke detection systems so smoke detection system will be if it is installed it would be giving a pre signal which would be specifying that in case then that there is chance of any fire causing and smoke is coming off from any area. so install smoke detection system which will help you in avoiding the pad losses then maintain smoke separation system along with detecting.

you must have smoke separation system some many a times most of the damages happens because smoke creates a creates a kind of environment where visibility goes to the lesser level and as you going to be able to see out drinks clearly and those damages goes to another level which is of very high amount.

so maintaining smoke separation system and detection system will help you out and dealing with the visibility which is the which which would which effects their during these five losses fire alarm and fire extinguisher is another thing which you their ship which is must to be kept in order to avoid fire losses or to deal with or to deal with any uncertain situations like that conduct regular fire evacuation drills.

so fire evacuation drill is conducted where you are you very you are where you are given lessons on how to make the environment where you can escape from the fire losses and what all safety measures one should take so conducting regular fire evacuation drills helps a lot in in avoiding any any such situation and dealing with it.

so that damages impacts add to lesser as compared to the severe which it happens in normal course of action use flame redundant materials and interior so using flame redundant materials which do not cause fire. so that the effect can be again reduced ask local fire brigade to assess safety.

so these are some of the precautions and measures which you could take to avoid these losses or to deal with such situation in order to make the impact a minimum in order to keep the impact minimum. so that the damages and final financial losses are not to that extent which creates a burden on you and your family thank you for watching.