Understanding Fire Insurance Coverage

Let’s face it. We’ve all left a candle burning longer than we should have at some point. It might have seemed like a small mishap, but it could have led to a massive house fire. And that’s not the only source of potential danger lurking. A spark on a rug, or faulty wiring in a light can cause a blaze that could destroy your home, and put your life at risk.

The National Fire Protection Association reports that there were 365,500 house fires in 2015. These fires caused $7 billion in damages.

Fire insurance is an important part of most home insurance policies. It gives you an added layer of protection for one of the most devastating forms of home loss.

What Fire Insurance Covers

Most homeowners insurance policies offer coverage for house fires within the policy. Fires are often considered to be perils, along with other dangers such as wind, hail, storms and theft.

Still, not all policies cover fires. In some cases, you will need to buy fire insurance separately.

Generally, fire insurance covers three areas of your home.

• Dwelling: Fire insurance covers the structure of your home itself.
• Detached Buildings: Fires can spread to other structures on your property. This aspect of fire insurance coverage provides protection in this scenario.
• Personal Property: Fire insurance can cover replacement costs for personal property.

Fire insurance might also reimburse your costs in replacing landscaping and shrubbery damaged by fire.

The Cost of Fire Insurance

There is no single way to determine how much coverage you need to have. Factors such as the age and location of the home, value of personal property and local insurance limits impact your rates.

If you live in a home that is high-risk for fires, you should make sure that you have strong coverage. A high risk might be a home that is older, or that sits close to a wooded area where a fire could spread easily. Always check your insurance to understand how fire insurance covers your home.

If you’re looking to update your home insurance coverage to better protect yourself against fire, we can help. Call Mitchell Insurance Agency at (940) 586-1273 for a free Wichita Falls TX home insurance quote.