What does Standard Fire Policy mean? Read on to discover the definition & meaning of the term Standard Fire Policy - to help you better understand the language used in insurance policies.
Standard Fire Policy
Standard fire policy (SFP) refers to the policy that started in New York that covered property damages brought about by fire. It was adopted by many states. It soon became mostly obsolete after the creation of property insurance policies, including the homeowner's policy. The standard fire policy, however, greatly influenced these policies.
We hope the you have a better understanding of the meaning of Standard Fire Policy.