S1: Fire

Question 1

Fire Insurance
what does it protect against?

Answer 1

protect against financial loss resulting from damage to buildings & personal property by fire, lightning, windstorm, hail, explosion and other perils

Question 2

Direct Loss

Answer 2

actual loss from damage to property

Question 3

Indirect Loss and examples

Answer 3

related loss etc rent or personal income

Question 4

Standard Fire Policy (SFP)
what is the standard and what can you add on?

Answer 4

coverage for direct loss from fire and lighting
and
include one coverage from: personal, commercial, covered loses, covered perils, additional living expenses, rental, business interruption etc

Question 5

Allied Lines:
what is it and what is it not attached to?
examples

Answer 5

coverage written on separate policy but not attached to SFP
Ex: Earthquake, water damage, crop trail, sprinkler leak