3 Important Things To Know About Fire and Insurance

9/18/2020 (Permalink)

Fire damaged a structure in Suwanee, GA

What Is and Isn't Cover In Your Insurance Policy?

A home fire in Suwanee, GA, in addition to its emotional and psychological costs, can be financially draining. Any repairs beyond a superficial burn can come with a hefty price tag. While homeowner's insurance should cover most fire damage claims, consumers need to have a good idea of what is and is not covered in their policy, and how to further protect themselves.

1. What Is Covered
Simply put, accidents. Whether it is a kitchen fire or an electrical wire falling on your house, most standard insurance policies will cover damage from fire and smoke to some degree.

2. What Is Not Covered
Arson is not covered. Insurance companies can rightfully deny any claim on an event that arose from a violation of the law. In fact, sometimes companies speculate that a fire was set on purpose in order to exclude a claim. Homeowners should work closely with fire officials and investigators to provide conclusive evidence that criminal intent was not the cause of a fire.
A vacant home fire also will not be covered. Generally, a residence that is unoccupied for more than 30 days is considered vacant. This is important to know for new homeowners, who often spend time on improvements and repairs before moving in. An empty home fire will not be covered if the insurance company can show that a home was vacant when it burned.

3. Fire Insurance for Extra Coverage
Fire claims are complicated. They often require working with a fire damage restoration company to assess the extent of the damage, and even then, they still may be refused or insufficiently reimbursed. Depending on your personal circumstances, it might be worth purchasing supplemental fire insurance to help cover what a primary policy does not.
A home fire can be a source of great worry, but it does not have to be. Understanding what types of fire are and are not covered by insurance is a good way to prepare. With the right coverage and information, most homeowners can survive and even restore their homes to pre-fire condition.