Homeowners insurance financially protects your home from the cost of fire damage
Knowing what coverages your home insurance policy offers makes all the difference in securing your home. Emergencies such as house fires can happen fast, so having the right policy secures your property when disaster strikes.
Does homeowners insurance cover fire?
Standard homeowners insurance offers coverage for fire damage. This coverage typically extends from the interior of the property all the way to detached structures such as barns, fences and sheds.
If you’re misplaced from your home as repairs are made, standard policies also pay for temporary housing and food.
Replacement cost versus fair value
It’s crucial to note when choosing a policy, some plans do not offer replacement costs for items. Instead, they may offer fair value price. Replacement cost is how much the item is originally worth, whereas value cost is the amount it would currently sell for in the market.
Natural disaster coverage
Many damages caused by natural disasters are also covered under standard homeowners insurance. These perils include, but are not limited to:
- Hail storms.
- High wind damage.
- Hurricanes.
- Lightning strikes.
- Etc.
Fire protection
It’s reported by the National Fire Protection Association over 300,000 house fires happen yearly.
Dwelling coverage protects your home structure if fire damages occur. Personal property coverage financially compensates for personal belongings damaged by fire.
Having the right coverage and understanding compensation options is important to make an informed decision when choosing the best plan to protect your household.
About the Author
Taylor Stewart
Taylor Stewart was born and raised in Richmond, Va. He attended Elon University on a baseball scholarship, but after suffering an unlikely injury, he was forced to give up on his dreams of making it to the big leagues.In 2006, Taylor moved to Bonita Springs, FL to pursue a career as a Professional Golfer. After traveling up and down the east coast of the United States playing in various golf tournaments on various golf tours, Taylor suffered yet another injury and was forced to change his career plans. Now, as a real estate agent,Taylor as chosen to put the same drive and determination that made him successful in sports, into helping others find their own piece of paradise in southwest Florida. Especially for those living in or looking for that perfect golf community, Taylor is able to guide his buyers and sellers through his expertise of the golf game and southwest Florida golf courses. Taylor is"Your ace in the hole."