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Is Fire Damage Covered Under Home Insurance?

One of the most dreadful things that can happen to your home is to be burned down by fire. What makes fire accidents so dreadful is the fact that you won’t just be losing your home, but your possessions inside it as well. You can literally be left with nothing but rubble, especially if your home is not insured. 

This is why it’s very important to secure your home with homeowners insurance that comes with fire coverage. With the right kind of home insurance, you will be able to get the financial support you need in the case of a fire accident in your house. 

Already have home insurance? If you do, you’re off to a good start. However, you should still make sure that your insurance covers fire damages, since not all home insurance policies do. 

A lot of people with home insurance who suffered from household fire accidents end up being astounded and feeling helpless when they find out their homeowners insurance doesn’t cover fire damage at all. Don’t wait until it’s too late. Start learning about home fire insurance below.

Home fire insurance is basically a kind of insurance coverage that provides financial support for losses within your property from damages caused by fires. If you live in an area that’s at low risk of fires, you may not need to get home fire insurance since your provider may already cover fire damage.

On the other hand, if you live in an area that is at high risk of fire accidents like wildfire, there’s a huge chance that your insurer doesn’t cover fire damage at all. If that’s the case, you will need to get an add-on coverage to protect your property from damages that occurs as a result of fires. 

With the right kind of home fire insurance, you will be able to replace destroyed possessions and rebuild your house with the funds you get from insurance claims.

What Kind of Coverage Does Homeowners Insurance Offer?

If you live in an area that’s at low-risk of fire accidents, your home insurance may be able to offer you protection from certain types of damaged caused by fire. The following are four things your home insurance policy could cover if you live in a low-risk area:

Dwelling Coverage

This type of coverage provides you with financial support for house repairs caused by fire. For example, repairs for smoke damage and burnt portions of your house will be fully covered by your insurance provider. If your entire house got destroyed from the fire, your insurance provider will offer you a lump sum for the replacement cost or actual cash value of your house. 

Personal Property Coverage

This covers the expenses you will need to replace your possessions like furniture, electronics, clothing, and other belongings. However, not all items will be covered equally. Some high-value items will only be covered up to its limits.

Loss of Use Coverage

This type of coverage will allow you to gather funds for additional living expenses. For example, if you need temporary accommodations while your house is being rebuilt, your insurer can offer you approximately 10% up to 30% of your dwelling limit.

Liability Coverage

This protects you from lawsuits if the fire from your house affects your neighbor’s property. 

Fire Accidents Insurance Doesn’t Cover

The type of fire damage covered by your home insurance will highly depend on where your house is located. Some events or causes that may not be covered by typical homeowners insurance include:

Wildfire

If you live in an area that’s susceptible to wildfires (like Northern California), you will most likely need to invest in a separate fire insurance policy. Standard policies don’t usually offer coverage for wildfires if you live in a high-risk area.

Arson

Arson refers to a fire purposely caused by the homeowner. It’s basically insurance fraud and a criminal offence. A lot of people try to commit arson just to collect money from insurance providers. For that reason, insurance providers always send out investigators to assess the fire damage so they can identify the true cause of the fire. If the accident was proven to be caused by arson, no coverage will be offered. 

Vacant Home

A home is considered vacant if it hasn’t been lived in for 30 straight days. If the fire occurred in a vacant household with no one at home during the time of the fire, the damages will not be covered. On another note, not all insurance providers have the same rules for vacant homes. 

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How to Get Affordable Fire Coverage

If you already have home insurance yet it doesn’t offer the type of fire damage coverage you need, you will definitely need to get another type of insurance coverage to fully protect yourself from any kind of fire damage to your house. 

Now getting two different types of home insurance may cost you more, but that doesn’t mean you would have to splurge a lot just to get your house fully covered from fire damage. Here are some things you can do to get more affordable rates:

1. Get plenty of quotes

It helps to shop around and collect insurance quotes from various insurance providers. Doing so will allow you to compare policy limits, pricing, and coverage. You can even use online quotation tools that can help you compare these factors from different insurers. It’s always best to take a look at your options first before you select and invest your money so you can see which insurance best fits your needs. 

2. Get bundled insurance policies

One way to save on insurance is to get insurance bundles. A lot of insurers offer great discounts for insurance bundles. Premiums can be 5% up to 30% cheaper when insurance policies are bundled together. Just make sure to only get the coverage you need to avoid additional expenses. 

3. Don’t be shy to ask for discounts

Some insurers offer discounts in exchange for using certain monitoring software, house materials, and so much more. There may be discounts that you qualify for that you’re not aware of, therefore, be upfront and ask you agent if there are any discounts that apply to you. If you’ve recently made changes, there may be discounts that you're eligible for now, so don’t forget to ask.

4. Increase your deductible

The more you raise the amount of your deductible, the lower your premiums will cost. Although increasing your deductible translates to paying a higher amount when a file is claimed before the insurer steps in, it may be worth it in your case, if you find the appropriate balance. To learn more, read our article on deductibles.

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