Fire insurance is a type of property insurance that provides additional coverage for loss or damage to a structure/property by fire. Fire insurance may be limited to a rate that is less than the cost of the losses obtained, however, purchasing additional fire coverage can help to cover the cost of replacement, repair, or reconstruction of property above the limit set by the property insurance policy.
You can also make claims to recover your belongings if you have contents insurance. Fire insurance is a necessity because the burden of the loss accrued will increase, not only on the property owner but to the society as well. War risk, turmoil, riots, etc. can also be insured under fire insurance.