What is fire insurance answer in one sentence

The term fire insurance refers to a form of property insurance that covers damage and losses caused by fire. Most policies come with some form of fire protection, but homeowners may be able to purchase additional coverage in case their property is lost or damaged because of fire.

What is insurance in one word answer?

Insurance is a legal agreement between two parties – the insurer and the insured, also known as insurance coverage or insurance policy. The insurer provides financial coverage for the losses of the insured that s/he may bear under certain circumstances.

What is the insurance explain in one sentence?

Insurance is a contract in which an insurer indemnifies another against losses from specific contingencies or perils. It helps to protect the insured person or their family against financial loss.

What is fire insurance India?

Fire insurance is a kind of contract between the insurance company and the insured, where the insurer assures. The policy helps the insured to cover the risk of loss of property by accidental fire cases, in exchange for an annual premium.