Fire insurance is the insurance which provide the security of the property and assets which is losses by the fire. This insurance is mostly use by the factory, industry and manufacture company. There are many risks of fire in factory and other sector, so that to measure this fire insurance is purchase by business man. Fire insurance is a measure to provide financial security against the risk of fire. The necessity of fire insurance was left for the first time in England in 1666 when one-third of the London was destroying by fire.

Fire insurance is the contract in which the insurance company promise to pay a sum of money due to the loss by fire to the property and assets during stipulated time on the consideration of a premium amount paid by the insured people. If there are any uncertain fire take place and damage the property of the insured then the insurance company first analysis the condition and provide the amount which is loss by fire. This contract dose not help on controlling fire but it is the promise to compensate the loss by fire.

Thus, fire insurance is taken by the individual and business to safeguard from the loss of property due to fire. Generally the owner of cinema house, residential house etc. takes fire insurance so that they can get compensation if there is any loss to them due to fire. Furthermore it is helpful to promote the people to invest the amount in business sector and other sector.