FIRE INSURANCE

Fire is a great friend of human being. When it misbehaves, it also proves to be a destructive agent of the enemy The damage caused by fire to the property of a person reduces him to utter poverty. Here comes the insurance to the rescue of a person by giving protection against the loss caused by fire. The insurance company, on payment of period payment (premium) compensates the actual loss incurred to the insured property. It does not exceed the maximum amount of the insured amount in any case. The fire insurance policy is also one of oldest method of insurance. It has gained popularity in all the developing and developed countries of the world.