32 Types of Fire Insurance Policies

Types of Fire Insurance Policies

[sanaparveenshaikh]

Well done sir 👍🏻👍🏻 and thank you so so much 🥰🥰

[tusharpatki]

Types of Fire Insurance are –
1. Valued Policy – For those goods whose value becomes difficult to calculate in case of loss by fire. For example, artwork, sculptures, paintings, etc.
2. Average Policy – For taking up a policy for a lesser sum than the value of the property.
3. Specific Policy – The risk is insured for a specific sum. In case of loss of property, the insurer will pay the loss if it is less than the specified amount.
4. Floating policy - This policy is tailor-made for businessmen who deal in import and export businesses.
This policy can be taken for the goods which are lying at different locations or godowns or warehouses.
5. Excess Policy – When the value of goods or stock fluctuates, then the excess policy may be taken by the insured apart from the normal policy.
6. Reinstatement/ Replacement policy: This is a type of policy where the insurer undertakes to replace the property or goods lost by fire, here the depreciation would not be considered.
7. Comprehensive policy: It covers more than fire insurance where it includes the insurance from Riot, Earthquake, Explosion & Burglary.
8. Consequential loss policy: Due to the fire incident, factory works will be at a halt, and the production will go down despite the fixed expenses continuing at the same rate.

[urvashi]

This video helps me for my project work.. thanks alot sir

[dovalaanchal]

Sir ur explanation way is so good 👍 thnkuuu for ur lecture on this topic 🙌

[rachitashrestha]

You explained very nicely♥️
Thankyou so much

[r.kr.k]

Thnku smch sirr, vry nice explaination

[pranchalmittal]

Very informative video! Can you please make more videos on insurance. Also, please cover what kind of insurance is normally preferred.

[sunilpanchade]

Sir
Pls prepare videos on other Topic as well....It's too knowledgeable.

[aaruhigujjar]

Thank you so much sir 😇...but 1 type is remained ....what's sprinkler leakage policy

[jkarora]

Thnks nice explained but you should explain fast

[prachibalda]

Thanks mam for explain mam please expalin full chapter