Mr. Naqvi's Fire Insurance Policy
Mr. Naqvi ran a roller-skate manufacturing factory in an industrial estate. As an intelligent businessman, he had bought a comprehensive fire insurance policy that covered not only the physical structure of his property from damage, but also all the machinery, fittings and materials.
When a fire struck his office due to a short-circuit in the electrical supply during the monsoons, the entire factory was charred with machines being irreparable and goods worth lakhs lost.
While Mr. Naqvi experienced tremendous challenges, he was able to get his factory up and running sooner than he expected because his fire insurance policy had covered a large part of his losses.