Insurance Terminology Friendly Fire
The courts have generally held that property insurance written on a named perils basis does not cover damage done by a friendly fire.
Insurance terminology friendly fire. What is friendly fire. The insurer agrees for a consideration to assume to a specified extent the losses suffered by the insured. Of the happening of loss arising from a peril or that may influence the extent of the loss. Basic insurance terminology and definitions about life health automobile and home insurance to help you understand basic concepts and buy the right insurance.
A fire that becomes uncontrollable or expands outside its intended boundaries. Insurance policy a legal document issued to the insured setting out the terms of the contract of insurance. Fire combustion sufficient to produce a spark flame or glow and which is hostile as opposed to friendly i e not in the place where it is intended to be such as in a furnace fire insurance coverage for loss of or damage to a building and or contents due to fire. Likewise a fire that becomes much hotter than it is supposed to be or that cannot be extinguished is hostile even if it never spreads from the location where it was intentionally kindled.
Insurance companies and superannuation funds credit unions building societies and friendly societies. Slippery floors flammable. A fire burning in a fireplace is regarded as a friendly fire in spite of the fact that extensive smoke damage might result there from. A fire confined to the area of a boiler stove or other place designed to contain it.
Ordinarily when an individual purchases fire insurance the coverage does not extend to damages resulting from a friendly fire but only to loss resulting from an uncontrollable hostile fire. As you experience changing events in life and take on greater responsibilities you may need to manage different kinds of life health automobile or home insurance. Friendly fire an intentionally kindled fire that remains within its intended confines such as in a furnace or fireplace. For example accident fire flood liability burglary and explosion are perils.
General insurance general insurance is non life insurance cover for damage or loss. Friendly society similar to a mutual insurance company which is owned by its policyholders a friendly society is owned by and established for the benefit of its members usually providing life insurance and sickness benefit. Insurance a formal social device for reducing risk by transferring the risks of several individual entities to an insurer.
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