Fire Insurance:What Your Fire Insurance Doesn’t Cover
As with any insurance policy, you need to read the fine print before you sign. Some homeowners don’t realize that certain fire protection policies don’t cover the water damage caused by firefighters trying to stop the blaze. Fire damage in your home may be isolated to the kitchen for example, but the water used to stop the fire could potentially flood your entire house. Water damage can manifest itself in ruined flooring, soggy drywall, and even mold, none of which are covered by your fire insurance. If you have a historic home with vintage crown molding and unique structures, insurance companies would sooner replace these damaged items with cheaper, more modern fixtures that will take away from your home’s value and charm. Make sure your home is protected in the event of a fire with a comprehensive policy.
Protecting Your Values
Chances are most of the valuables in your home are susceptible to fire damage. Even jewelry, precious metals, and firearms can be damaged by fire. Fire proof safes are a great investment to protect your smaller valuable. They come in a variety of sizes. Some can fit right under your bed or in a dresser drawer while other safes with greater capacities will fit nicely inside a walk-in closet. Fireproof bags currently on the market can effectively protect files and important paperwork from fire damage. In today’s digital age, however, many people are backing up their important paperwork, like mortgage and insurance information, onto online storage servers.
