Property insurance that covers losses and damage caused by fire is known as fire insurance.
Fire protection is included in most policies, but homeowners may be able to purchase additional coverage in the event that their property is destroyed or lost in a fire.
The cost of replacing, repairing, or rebuilding property above the limit set by the property insurance policy can be covered with additional fire coverage.
The risks of war, nuclear war, and other similar perils are typically excluded from fire insurance policies as general exclusions.
Additionally, intentional fire damage typically is not covered.
Property insurance that covers losses or damage to a structure that is destroyed or damaged in a fire is called fire insurance.
In a standard homeowners policy, fire insurance may be limited to a rate that is lower than the cost of the losses.
Damages covered by fire insurance can be compensated based on either actual cash value (ACV) or replacement cost.
