state difference between fire insurance and marine insurance
Dear student.
Difference between fire and marine insurance are:
In fire insurance, insurable interest must be present both at time of taking policy as well as at time of receiving the claim while in case of marine insurance, insurable interest must be present only at time of receiving the claim or loss.
Fire insurance protects the insured against the loss or damage caused due to fire while marine insurance provides protection to owner of ship against the perils of sea.
Regards
Difference between fire and marine insurance are:
In fire insurance, insurable interest must be present both at time of taking policy as well as at time of receiving the claim while in case of marine insurance, insurable interest must be present only at time of receiving the claim or loss.
Fire insurance protects the insured against the loss or damage caused due to fire while marine insurance provides protection to owner of ship against the perils of sea.
Regards