Question

A business takes fire insurance policy to cover

Answer 1

Answer:

fire insurance can be claimed when insured property is damaged by fire accidentally.

Answer 2

Answer:

Fire insurance policy is a legal contract between the insurance company and the policyholder. This insurance policy guarantees to pay for the loss of the policyholder's property in a fire accident. It provides coverage against fire accidents, explosion, lightning, etc.

Explanation:

Owning a business, one is always prone to risks and a fire eruption can instantly bring a flourishing business to a stalemate.

Having a fire insurance policy comes with a broad range of scope, which includes:

• A fire insurance policy provides comprehensive protection against any damage caused due to fire explosion, caused due to either movable or immovable property.
• A fire insurance policy encompasses damages to the properties, for instance, damage caused to an office building, furnishings, machinery, stock, etc. due to a fire-outbreak.
• Besides, fire-related perils, a fire insurance policy also encompasses damages caused due to any natural calamity, explosion, the bursting of the water tank, etc.