We can’t see our future. We don’t know what will happen next. We don’t know which danger is waiting for us. As well as we also don’t know when a sudden accident will occur that can ruin our life. If the accident is a fire related accident than the damage will be severe. Among accidents, fire accident is one of the most disastrous accidents. The result of this fire accident is severe and may be even long lasting. We can’t prevent fire accident from happening if it is already written in our fate but we can minimize the losses. The victim of fire accident face severe financial crisis because of property damage and many other things. But the victim can be saved from this disastrous situation. Fire auto insurance can be the best friend in this situation.
Fire auto insurance provide coverage to the insurer in exchange of premium. In the previous time the policies of fire auto insurance companies were old and undeveloped. But at present the policies are much developed and very much suitable for the present situations. The insurer will be much more benefitted from these developed and modern policies. But the insurer should choose carefully which policy will be suitable for him as there are different policies. Some of the common and most useful policies are given below:
1. Specific policy: This policy is has a specific limit. Under this policy the insurer will get a specific amount of compensation which will be lesser than the value of the property damaged by fire accident.
2. Valued policy: This policy is not a policy of compensation. Under this policy the insurer have to pay a specific amount of money irrespective
of the actual loss suffered.
3. Average policy: In this policy the insurer pays a sum of money which is less than the property he insured. If that property is damaged and the insurer can’t pay the whole amount of repairing or replacement cost than the insurance company will meet up the lacking.
4. Reinstatement and replacement policy: If any property of the insurer is destroyed and must be replaced with a new one than the insurance companies will provide coverage to the insurer.
5. Floating policy: This is exceptional policy. In this policy the coverage is provided for properties situated in different places.
6. Combined policy: This is multiple purpose policy. In this policy a single policy may cover multiple losses. As for example: fire with burglary, third party losses etc.
Among these fire insurance policies, the insurer should choose carefully the suitable policy for him. If the insurer can choose carefully the suitable policy for him he can’t even imagine how much help he will get from the fire insurance companies. These fire insurance policies are becoming much popular because of their long lasting benefits. These fire insurance policies are very much necessary for our day to day life. We should know these fire insurance policies and also aware people about it.
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We can’t see our future. We don’t know what will happen next. We don’t know which danger is waiting for us. As well as we also don’t know when a sudden accident will occur that can ruin our life. If the accident is a fire related accident than the.
sohel rana email@example.com Administrator INSURANCE