They say the fire is a type of disaster that does notdiscriminate. Unfortunately, there is always a chance that fire occurs to your home anytime and for any number of reasons such as cooking, electrical distribution, candle mishap, heating equipment, and smoking materials.Is your home covered? Are you prepared enough for consequences when fires do occur from your home?
One of the most devastating feelings and nightmaresin your life iswhen a fire breaks out, destroyed all valuable possession and memories of your home. Hopefully, you and your familywill beable to safely escape from any harm. We know for the fact you are facing extremely strong emotions fromfrustrations, sadness,loss,and regretsbut at the same time, you are also dealing with enormoustaskson how to put everything back together. It is truly unfairthat you should have to makethe toughestdecisionduring suchemotionally and confusing times
Fire Insuranceprovidesextra protection and covers the cost of damages to your home propertydue to a fire.This policy covers the cost of repairing and replacingdamaged propertyand it also protects you from a financial disaster.
DoesHomeownerInsuranceCovers Fire Damage?
Most of thehomeownerinsurance coversfire damage.It is one of the named perils in your homeowner insurance policy. Named perilsare listed on your policy and these are the list ofbad thingsthatcould happen to your property.
Examples of Named Perils
Fire or lightning
These are the number of reasons that might cause fires in your home.
A list of standard homeowner insurance coveragesmay take care of the cost of damageto your home property due to a fire.
These are the thingsthatyou own such assports/hobby equipment, electronics, furniture,clothing,and other valuable belongings. This type of coverage canassist youto replace to repair your property after damage due to a fire.
There are 2types ofpersonal propertycoverage: actual cash value and replacement cost. TheActual Cash Valueinsurance policy only pays for depreciated value while the replacement cost insurancepolicypays for the full replacement cost of your belongings.Justmake sureyoureviewyour declaration policy ifyou haveactual cash value and replacementcoverageor contact your insurance advisortoassist you and make changes that fit your needs.
This covers the cost of repair or rebuilds burned portionsof yourhome.Let say, yourkitchen burned due to a firereplacement cost canassistto replace your kitchen stuff such as cabinets or other belongings usingsimilar quality whether they were new or old.
This coverage will helpyou toreimburseyour temporaryaccommodations and food cost around 10% to 30% of the dwelling limits.
For example,when a fire breaks out in your home and spread to your neighbor’s house, and causes damage. This coverage protects you against lawsuits from your neighbor.
The smart ways to help protectyourpersonal propertyand homefrom the firedo not leave unattended cooking, unattended candles and always check the electricalwiring,having a fire extinguisher and smoke detectors inyour house. But if a fire breaks out and damages your propertyfire insurance may help you and yourlovedones from financial disaster.