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A fire has the potential to destroy a property or a business, leading to losses of great scale. To get compensated for such losses, you can opt for fire insurance, covering your movable and immovable property. The property that you want to insure could be residential, commercial or industrial. Fire Insurance offers compensation for the costs incurred in the replacement, repair or reconstruction of a property that was damaged due to fire. Since the estimation of loss from fire is unpredictable, this policy is issued with fixed value compensation as an upper limit set by the property insurance policy. The actual loss or the maximum amount agreed beforehand is paid as compensation when you file a claim for fire insurance. Currently several types of Fire Insurance in market so Businessmen should be clear about the type of policy they need and whether it suits his/her business operations. If you have any doubts then we are here to provide our best.