Fire Insurance is a contract to cover risk of loss due to fire.
True
False
A
True
B
False
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Solution
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Fire insurance is a contract whereby the insurer, in consideration of the premium paid, undertakes to make good any loss or damage caused by fire during a specified period upto the amount specified in the policy. Normally, the fire insurance policy is for a period of one year after which it is to be renewed from time to time.
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