Fire insurance

Fire insurance is a measure to provide security aganist risks of fire.The necessary of fire insurance was left for the first time in England in 1666 when one-third of londan was destroyed by fire devastation(great fire insurance).Fire insurance is a contract,in which the insurance company promises to pay a sum of money due to loss by fire to the property,during stipulatsd time,on consideration of a premium amount paid by insured.This contract does not help in controlling or preventing fire but it is a promise to compensate the loss.thus fire insurance is taken to safeguard from the loss of property due to fire.

A Fire insurance can do defined as on agreement between the insurer and the insured,under which the insurer agrees to indemnify the loss caused by fire,to the insured in consideration of certain payment,called premmium.Thus the oweners of cinema houses god owns,business premises,residential houses,etc.take fire insurance so that they can get compensation if there is any loss to them due to fire.

The scope of fire insurance is an important matter.The insured must have to prove that the loss is really due to fire.The scope of fire insurance has two conditions in order to make the insure liable for loss

(a).there must be actual fire or ignition,and (b).fire must be accidental.