FIRE INSURANCE Fire insurance is a type of property insurance that covers damage and losses caused by fire. Most policies come with some form of fire protection, but homeowners may be able to purchase additional coverage in case their property is lost or damaged because of fire. Fire insurance can help you recover from the financial and emotional impact of a fire, as well as protect you from legal liability if the fire affects other people’s property or lives. The risks of not having fire insurance over your property are manifold. Here are some of the possible consequences of not being insured against fire: You may have to pay for the repair or replacement of your property out of your own pocket. Depending on the extent of the damage, this can be very costly and may exceed your savings or income. You may also have to find alternative accommodation while your property is being restored, which can add to your expenses. You may lose your valuable possessions, such as furniture, appliance