One event that can be absolutely devastating is a fire. That's why it is important to understand how your homeowners, renters, and auto insurance policy will protect you in the event of a fire.
Auto Insurance Fire Protection
Your auto insurance policy will have a section for third party, fire, and theft protection. When it comes to the fire protection portion of the policy, you'll find that you will have protection if your vehicle were to catch on fire for various reasons. This could be due to an accident, such as your vehicle being in your home during a house fire. It also includes vandalism where your car is set on fire. Your insurance provider will likely need you to make a police report in order to make a claim, which you will likely be doing anyway due to simply having a fire.
Homeowners Insurance Fire Protection
Your homeowners insurance will protect your home from a fire in a couple of different ways. You will have coverage to repair or reconstruct the home if necessary, which is up to the coverage limit for the structure. Your homeowners insurance policy should be gradually increasing the value of your home to account for inflation and material costs, so that when the day comes that you do not run short on policy coverage amounts.
You will also have personal property coverage as part of your homeowners insurance policy. This will cover all of your possessions that are damaged from the fire or smoke that is created. In most situations, the insurance provider will try to clean the item and restore it back to how it once was. This is best for items that have an odor and need to be properly cleaned. However, items that are discolored from smoke and soot will need to be replaced with a new item. Your insurance provider will likely give you the depreciated value of an item that is destroyed or cover the replacement cost to get a similar new item that is available today.
Renters Insurance Fire Protection
If you are renting a home or apartment it is always a good idea to get renters insurance. Even though you are not responsible for the structure of the building itself, you need to protect the items in it. You can expect fire to be a covered event where you can get the replacement cost for the items that are damaged, much like if you have homeowners insurance. You will also get loss of use coverage for the time when your apartment cannot be lived in.
For more information on fire insurance, contact an insurance provider in your area.Share