Abstract
Land is a commodity whose ownership maintenance and protection is essential and indispensable to the development of every modern society as ours. Land holders therefore have a duty to maintain and protect same from risks including the fury of fire. Fire insurance protects against damage to land or building as a result of fire outbreaks resulting from riots, electrical malfunctions, arson and natural disaster etcetera. The work canvassed fire insurance as a viable method for the protection and mitigation of effects of fire outbreaks on Land. The work observed the present unpopularity of fire insurance practice among landholders and the fact that insurers and their agents are yet to earn the trust of Landholders by improving their performance and effectiveness in the area under research. Questionnaires were administered to randomly sampled Landholders in the 20 main Local Government Areas of Lagos state, Nigeria, while interviews were also conducted. It was the finding of the work that although in its present state, the fire insurance scheme or business seem to be in a tutelage stage, that it however has the potential of being greatly improved by a joint action of the government and other stakeholders, to serve as an effective and viable risk bearer for landholders not just located in Lagos but indeed all over the Nigerian State. DOI: 10.5901/mjss.2013.v4n6p91
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