Question

difference between fire , marine and life insurance on five basis​

Answer 1

Answer:

As against, in case of marine insurance, the insurable interest must be there only at the time of loss. Fire insurance covers risks due to fire and associated risks. Conversely, marine insurance covers sea perils. The claim in case of fire insurance is the amount insured, or the actual loss sustained whichever is less.

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Answer 2

Differentiate between life insurance fire insurance and marine insurance:

Two important characteristics of fire insurance are: Insurable Interest: The policyholder must have an insurable interest in the property being insured. ... Marine insurance covers any damage a ship or the cargo of the ship may suffer during the voyage or at any point between the start and end of the journey.