Home fire insurance is one of the coverages that are always included in your insurance policy, but it is important that you have concrete details about it, you have to take into account if it is mandatory or how much it implies to have it.
In this article we are going to provide you with detailed information on how this type of coverage works and what fire damages it covers, in case of fire damage in your home.
What will you find here?
Does my home insurance policy cover fire damage?
In most cases it is mandatory for homeowners to take out a homeowner’s insurance policy with fire damage coverage, which covers the entire structure of your home. The only exception for the coverage to be extended to the ground or the exterior of the home is in the case of: explosions, sudden fires or extreme weather incidents (flood, earthquake, storm).
It is important that you keep in mind that it is mandatory to contract this type of insurance so that in extreme cases or fire damage you can make the pertinent claim to your company, with the support of one of our Let Us Claim public adjusters, and thus alleviate the burden of an arduous process.
What types of fire damage does my insurance policy cover?
When fire damage insurance is included in your policy, you become entitled to compensation when fire damage occurs, provided that the loss was unintentional.
This is a law that is present in the contract of your policy, there the company will specify in which cases the fire damage coverage does not apply:
Fire caused intentionally with the purpose of causing damage.
Fire caused by negligence of the owner or third parties for which the insured is responsible.
What about my valuables are also covered by the fire damage insurance policy?
No, valuables inside the home (jewelry, works of art, technological devices, etc.) must be covered by a different insurance policy, which is optionally added to the homeowner’s insurance to cover property damage.
Each insured person is free to estimate the value of the objects he/she wishes to be covered by the insurance and to choose the amount of compensation he/she wishes to receive in case of damage. This is a kind of “amount to be paid” in the homeowner’s policy. Our public adjusters at Let Us Claim will help you determine these types of additions to your home insurance policy and how to make a claim correctly, without so much confusion.
Insurance companies take into account the protection mechanisms or surveillance equipment you install in your home for fire damage in order to calculate the price of home insurance and valuables.
Is the home insurance policy effective in all fire cases?
As we have already mentioned before, those cases that have not been intentional will be insured. The insurance company will not cover fire damage caused by the insured party intentionally or due to gross negligence. It is very important to bear in mind that this clause is fundamental to avoid that the insured party himself may set fire to his home in order to receive compensation.
Before contracting the insurance, it is necessary to give a detailed reading to the clause on fire that it contains, because it is very fundamental that it includes the damage by fire or explosion, for that, if you already contracted an insurance company and you do not know which are its clauses, the public adjusters of Let Us Claim will help you to break down each one of them so that you have clear what type of home coverage you have and what damages it covers.
Check thoroughly if the fire damage insurance covers the real estate of the home related to fire, dust and smoke, also the most advisable is to check if the warranty proposed by the insurance company includes coverage for damage to electrical appliances.
For the rest of the damages, the insurance company will indemnify the damages produced by the fire when these have originated suddenly or have been caused by third parties intentionally.
What to do after a fire in my home?
If you suffered a fire or explosion in your home, you have 5 working days to notify the insurer of the loss. It is very necessary not to touch anything and leave the burned objects as they are. If necessary, make a photographic record of the fire damage and note down the objects that disappeared during the fire (as long as they are accredited by the insured party).
All these steps or tips are useful for the insurance company to calculate the indemnity.
The coverage of fire damage is one of the most important when you contract the insurance of your home, the name it carries is: multi-risk home insurance, but, as well as these, there are other essential coverages for the home such as: Civil liability insurance, damages to third parties and guarantee of theft to compensate for the damages produced by the same.
Home insurance policies have different functions and not all of them have the same coverages, but we can deal with that later in another article.