Fire insurance for PRIVATE DWELLINGS is
almost mandatory if not compulsory from a homeowner's point of view.
This product provides coverage for loss or damage caused to the insured
items, during the period of coverage.
The owner of such a property, should ascertain the true value of replacing
the items, so that if a loss should occur the question of underinsurance
should not prevail.
The same thing can be said for this class of business in conjunction
with PRIVATE FIRE COVERAGE.
The question of true value is more important in this class of business
due to its very composition.
This is so because so many people depend on the existence and presence
of this class of business that its administrators, should be cognizant
of its pitfalls, and should avoid them at all cost. In short, risk management
is the success of good business engagement.