With the recent outbreak of wildfires in northwest Oklahoma, it is important for homeowners to be aware their policy’s fire coverage plan. In this article we will look at some of the basics of fire coverage.
Fire Coverage: The Basics
The worst thing that anyone can hear when filing a claim is that they aren’t covered. Or that Their claim exceeds their coverage limit. We are going to look at different aspects of Fire coverage, and what you as a homeowner need to know.
- Basic Coverage – Most of your homeowner insurance policies will cover your home and personal belongings in the event of a fire. This type of protection also covers attached structures such as a garage. Most policies will also help to cover other detached structures on the property such as certain sheds, fences or detached garages. Most standard homeowner policies include coverage to property damaged by fire; if a tree or shrub were damaged by fire.
- Additional Coverage – It’s important when choosing a policy to know how much coverage you will need. Some policies may offer lower coverage for certain personal property that has a higher value. In this case, purchasing additional coverage is wise to insure your property’s total value. It is also important to remember dwelling cost. The cost of rebuild after a fire may be more than the price that you paid for the home. Factors like new construction costs will often vary. Consideration should be made based off of current construction rates in you area. It is important to discuss the type of coverage you will need with your agent. Weather it be fire coverage, or any other type of peril, it is always good to know you’re covered! If you have any insurance questions, don’t hesitate to contact Drew Ritchie’s office in Enid, OK.