What is the Definition of Fire Insurance?

What is the Definition of Fire Insurance?

Coverage protecting property against losses caused by a fire or lightning that is usually included in homeowners or commercial multiple peril policies.

Source: Insurance Handbook A guide to insurance: what it does and how it works | https://www.iii.org/

Label: Insurance
Theme: Dictionary of Insurance Terms

Other Questions: What is the definition of Annuity?

What is the Definition of Fire Insurance?

What is the Definition of Fire Insurance?

You can find random definition and meaning of insurance terms below:


Meaning of Prior Approval States in Insurance Terms

States where insurance companies must file proposed rate changes with state regulators, and gain approval before they can go into effect.


Meaning of Product Liability in Insurance Terms

A section of tort law that determines who may sue and who may be sued for damages when a defective product injures someone. No uniform federal laws guide manufacturer’s liability, but under strict liability, the injured party can hold the manufacturer responsible for damages without the need to prove negligence or fault.


Meaning of Property/Casualty Insurance in Insurance Terms

Covers damage to or loss of policyholders’ property and legal liability for damages caused to other people or their property. Property/casualty insurance, which includes auto, homeowners and commercial insurance, is one segment of the insurance industry. The other sector is life/health. Outside the United States, property/casualty insurance is referred to as nonlife or general insurance.


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