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How to insure against fire in America

How to insure against fire in America

Fire insurance in America is one of the important insurance products offered by the insurance market to the public, as it plays a role in preserving their property and responsibilities towards others, as well as protecting public property by compensating for damages that occur in the wake of the insured dangers.


Fire insurance in America

The emergence of fire insurance began in America and Central Europe during the sixteenth and seventeenth centuries with the emergence of craftsmen and the formation of their own associations, where fire insurance at that stage was limited to helping the owner of the craft who wanted to protect his property from the fire from the damage it incurs.


In the wake of the industrial revolution and the emergence of new inventions and the transformation of the industry from manual to automatic, and its need for protection from all damages, then the demand for insurance against fire risk increased.


How to insure against fire in America

Fire insurance in America has more than one form in the documents issued by companies, there are documents for insurance against the risk of fire first, which is the general fire document and it is issued to all property, whether factory, house, shop or office, and it covers damages caused by the effects of fire, and the second of these The documents are a fire and additional dangers document, and the third one that includes the danger of fire is the family protection document.


Fire insurance

It also topped the list of industries for which compensation for fire accidents was paid during the previous years, as follows:

Paper 15% and plastic by 14%, followed by foodstuffs by 12%, where electrical diamonds lead the causes of fire in those industries, followed by mechanical fire, then explosion and self-ignition.


There is no doubt that this requires the subscribers, before issuing the document, to ensure the availability of ventilation and electrical wires.


In addition to periodic maintenance, inspection and follow-up by industrial security, there is a general follow-up on cables and electricity connections, and the cooling of gas tanks.


The high degree of insurance awareness among individuals and the adoption of safety measures to preserve their property, especially after a number of them were exposed to fire accidents resulting from high temperatures or a short circuit.


Fire insurance companies

Insurance experts stressed the need for insurance companies to follow some of the inevitable recommendations to reduce the size of losses in the fire insurance branch during the coming period.


In addition to imposing a percentage of bearing on customers with bad results in the fire insurance branch, in addition to the pivotal role played by the risk management in insurance companies to study the possible results of insurance coverage for those industries, stressing the strictness of the reinsurers in accepting these documents.