fire insurance
Học thuậtThân thiện
Definition
Noun: A specific type of property insurance that provides financial coverage for losses or damages caused directly by fire.
Usage
This term is used to refer to a contractual agreement (an insurance policy) where an insurer promises to compensate the policyholder for fire-related damage to insured property, in exchange for a premium. - It is a common and often mandatory requirement for homeowners, landlords, and businesses. - The coverage typically applies to the structure of a building and may extend to contents within it, depending on the policy terms.
Examples
- The bank required fire insurance on the mortgaged property before approving the loan.
- After the warehouse burned down, the company filed a claim under its fire insurance policy.
- Standard homeowners insurance includes fire insurance, but it's important to understand the coverage limits.
Advanced Usage
- "to take out fire insurance": To purchase a fire insurance policy.
- The new restaurant owner took out fire insurance before opening.
- The concept is often discussed in contrast with or as a subset of broader insurance types like "property insurance" or "homeowners insurance," which typically include fire coverage among other perils.
Variants and Related Words
- Fire policy: Another term for a fire insurance contract.
- Fire coverage: The specific protection against fire damage within a broader insurance policy.
- Insurance against fire: A descriptive phrase synonymous with fire insurance.
Synonyms
- Coverage against fire
- Fire protection (in an insurance context)
Related Phrases
- Fire insurance claim: A formal request to an insurance company for compensation after a fire.
- They submitted a fire insurance claim for the damaged inventory.
- Fire insurance premium: The regular payment made to maintain the insurance policy.
- The fire insurance premium increased after several wildfires in the region.
Noun
- insurance against loss due to fire