Glossary
- fire insurance Subir
- Under fire insurance, the insurer undertakes, within the limits established by Law and in the contract, to indemnify the Insured for loss of or damage to the insured property caused by fire.
Fire is defined as the combustion and burning by flames which are capable of spreading, of an object or objects that were not intended to be burnt in the place and at the time it occurs.
- first lossSubir
- It is the form of insurance that provides coverage up to a certain amount, regardless of the total value.
- full value insuranceSubir
- The sum insured must correspond to the real total value of the different insured interests.
