Meaning of “fire policy” in the English Dictionary

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"fire policy" in Business English

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fire policynoun [ C ]

uk us plural fire policies

INSURANCE a type of insurance in which an insurance company agrees to pay for damage caused by fire, or the document in which the details of the insurance are recorded:

A building owner who installs a sprinkler system can expect a drop in the cost of a fire policy.

(Definition of “fire policy” from the Cambridge Business English Dictionary © Cambridge University Press)