Fire is a constant concern for homeowners. Unfortunately, fire-related losses can be high. Home insurance will typically cover these losses. It applies to situations where the fire is unintentional and accidental. Fires are one of the most important reasons for you to update your home insurance policy. You need comprehensive protection. Think about why, and how, this coverage can benefit you.
How Likely Is a Fire?
Fires remain a risk in most homes. However, newer products and safety code updates help to reduce many of these risks. It is important for homeowners to take steps to make their home more fire resistant.
The National Fire Protection Association (NFPA) states a fire department responds to a fire every 24 seconds in the U.S. This comes from reports from 2016. It also notes a structure fire occurred every 66 seconds across the country. For homes, a fire occurred every 90 seconds across the U.S. And, outdoor fires, regardless of area, occur every 48 seconds.
What About Home Insurance Claims?
Home insurance covers many of these fires. Yet, it is important to recognize not all fires can receive coverage.
The Insurance Information Institute provides some key statistics on fires. In 2016, for example, there was over $19 million worth of loss from fires. Of all fire loss claims, 58.7 percent of them occur at homes, not at businesses. Also, during 2016, there were 475,000 structure fires. The average loss per fire was $16,610.
What does this mean for you, a homeowner? Owning a home is a big responsibility. It comes with the need to ensure your home is safe from risks like this. You can do so by simply being proactive.
You also need to ensure your home insurance policy is up to date. It should provide enough coverage for you to rebuild your home if it a fire occurs. Remember, the damage even from a small fire is significant. Firefighters may put it out quickly. However, the smoke and water damage can lead to costly losses. To avoid this, it is necessary to update your policy to match your homes rebuilding cost and contents value.
The more information you have, the better. Speak to your Florence SC home insurance agent. Learn what type of coverage you have. Find out what steps you can take to reduce your risks. Simple smoke and fire alarms can provide incredible support. They may even help you reduce your costs associated with home insurance.