FIRE INSURANCE ||

 Last week we saw the main features of fire insurance.

There are some more riders available like :

1. Forest fore.

2. Omission of insuring Additions, Alterations, and Extensions

3. Debris removal

One can choose as per need.

 No one has to check the deductible in the policy schedule which will not be covered in our policy due to loss each and every year.

There are standard exclusions in the policy.

1. Nuclear risk.

2. Loss, destruction, or damage due to war or hostility by the enemy.

3.Pollution & contamination.

3. Any excess as per policy schedule.

4. Temperature change in cold storage due to which goods are affected.

5. Excess pressure or excess running of fixture or die.

There are more standard exclusions that are to be looked at before the purchase of the policy.

In the end, we have to give actual Sum Assure or take advice from Consultant for same to get our dues on the condition of loss. Also mention the claim we have taken in previous years. It affects our rating. As more the claim we had taken more the premium we have to pay.

Always check the policy wording to avoid a hassle in the claim process.


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