Ans - The insurance company must first have an insurable interest in the insured goods provided, that is to say, the insured must assume the risk of economic loss in the event of loss or damage to these goods. The application form must include all reliable details to the best of the insured's knowledge and any other information that the applicant considers relevant.

Ans - Bharat Laghu Udyam Suraksha, Bharat Griha Raksha, Bharat Sookshma Udyam Suraksha and standard fire and special perils policies provide coverage for property against fire and related perils like flood, riot, lightning, earthquake etc. Additional property loss or damage resulting from break-ins and thefts may be covered by burglary and theft insurance. Valuables can be included in comprehensive policies, with comprehensive policies available to owners and dealers.