So what is FI? Why Fire Insurance has become important in current world? Fire insurance is a type of insurance that provides financial protection to individuals or businesses in the event of damage or loss caused by a fire. Insurance for Fire policies typically cover the cost of repairing or replacing property damaged or destroyed by a fire, as well as the loss of income or revenue that may result from the fire.
To obtain insurance for fire, individuals or businesses must purchase a policy from an insurance company. The policy will outline the terms of coverage, including the types of damages covered, the maximum amount of coverage available, and any deductibles or exclusions that apply.
In order to receive payment from a insurance policy, the policyholder must file a claim with the insurance company and provide evidence of the damage or loss caused by the fire. The insurance company will then investigate the claim and determine the amount of compensation that the policyholder is entitled to receive.
It is important to note that insurance for Fire policies may have limitations or exclusions, and may not cover all types of fire-related damages. It is therefore important for individuals and businesses to carefully review their policies and understand the terms and conditions of their coverage.