Details of Fire Insurance

Fire results not only in loss of property but also loss of profits to the business on account of its dislocation. Such a loss can be got covered by taking a loss of profits policy. Considerable care should be exercised in determining the amount for which a loss policy should be taken. The policy should adequate to cover the likely amount of loss, which the insured may suffer on account of dislocation of the business. The policy specifics both the period as well as the amount it covers. To study about loss is essential in financial accounting assignments.