October is National Fire Prevention Month and fire prevention goes hand-in-hand with your homeowners’ insurance.
According to the U.S. Fire Administration’s office, in 2013, fire departments across the nation responded to an estimated 369,500 home structure fires.
These fires caused 2,755 deaths, 12,200 civilian injuries, and $7.0 billion in direct damage. The report also states cooking fires are the #1 leading cause of home fires and fire injuries.
With your home being one of your most valuable assets, be sure to have an adequate homeowner’s insurance policy to reduce the risk of falling into a dangerous financial situation.
Below are some fast-facts regarding homeowners’ fire policy insurance:
- Homeowners’ policies insure both your home and the contents against fire damage. However, most policies limit how much they’ll pay for individual items. Ask your agent for specific information regarding your policy.
- If your home is temporarily uninhabitable because of a fire, most policies cover additional living expenses, such as hotel stays, restaurant bills, etc.
- Actual-cash-value (ACV) policy will pay the original purchase price of whatever was burned, less depreciation for the years you’ve owned it.
- Replacement-cost policy will cover the cost of rebuilding or replacing damaged property, which is often more than the depreciated purchase price.
- All policies require homeowners to report their loss as soon as it’s reasonably possible.
There are many different providers and policies, meaning a variety of coverage limits, deductibles and exclusions defining what is and is not covered for you.
When buying your homeowners insurance policy, you and your agent should discuss if your policy will fully protect your belongings and know what the specific exclusions are.
If you have more questions about specific fire protection coverage, contact the Pettineo Insurance Agency at 954.493.9424 or visit our website, pettineo.com
A house fire can happen to anyone – and having the right homeowners insurance to assist with your financial losses is something you shouldn’t do without.
Pettineo Insurance Agency Inc. provides homeowners insurance in Fort Lauderdale, Lauderdale-By-The-Sea, North Lauderdale, Pompano Beach, Oakland Park, Boca Raton, Deerfield Beach, Hollywood, Sunrise, Coral Springs, Pembroke Pines, Sunrise, Tamarac, Plantation, Lighthouse Point and all of Florida.
