Question:medium

“Accidents are unexpected and destructive.” Do you agree with this statement? In this context, state two points of importance of Fire Insurance Policy to the business.

Updated On: Jan 13, 2026

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Solution and Explanation

Financial Protection: Fire insurance offers financial restitution for accidental fire-related damages, facilitating business recovery.

Risk Coverage: This insurance covers damage to assets, inventory, and equipment, thereby safeguarding operational continuity.

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