Okuzeka
Insurance vocabulary · Property & Liability

Fire insurance

Meaning in insurance, with examples

nounCore term

In insurance, fire insurance means: Insurance that pays for damage to buildings, equipment and stock caused by fire and often by related events such as lightning and explosion.

In Turkish: yangın sigortası

How it is used

One of the oldest lines of insurance. In Turkey a fire policy is the base of most commercial property cover, with extra perils such as earthquake, flood and storm added to it. Underwriters check sprinklers, alarms and fire separation.

Example sentences

  1. The fire insurance policy was extended to include earthquake and flood cover.

  2. Fire insurance premiums are lower for buildings with automatic sprinklers.

Common collocations

  • fire insurance policy
  • fire and allied perils
  • fire insurance premium
  • fire cover
  • property insuranceInsurance that covers buildings, equipment, stock and other physical assets against damage or loss from events such as fire, flood, storm and theft.
  • perilA specific event or cause that can lead to a loss, such as fire, flood, storm, earthquake or theft.
  • earthquake insuranceInsurance that pays for damage to buildings and contents caused by an earthquake and by events that follow it, such as fire or landslide.
  • business interruptionInsurance that pays for lost profit and continuing costs when a business has to stop or slow down because of insured damage, such as a fire.

More terms: Property & Liability

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This page explains English vocabulary for learners. It is not financial advice.