Do you own house? Maybe you will get reminder from your lender to put some money on fire insurance. I just received from my lender that they debit my account for fire insurance.
So why it is important to have fire insurance ? Let’s read this
As we know, fire insurance is one type of insurance coverage in exchange to receive advantages for the fireplace losses. It provides the security for home, home furniture, share, enterprise buildings, etc.
Fireplace insurance provides the price of alternative of properties and assets which gets broken due to the fireplace incident.
Fire insurance provides the advantages for the homeowner in these ways :-
– Provides the price of damage for the building
– Provides the replacement cost, if any home furnishings are damaged to the fireplace incident, like plywood home furniture, carpets, clothes.
– Provides alternative or maintenance price for the electronic items, which is broken due to fireplace, like television, computer, air coolers.
Fire accidents are unexpected and rarely happen but the effect is big. Hence, having a fireplace insurance is very much essential. It is important because a disaster can occur at any time. There could be many factors behind a fire, for example arson, natural elements, faulty wiring, etc.
Under fire insurance, the risks that are covered usually include losses arising due to incidents of fire, lightning, explosion/implosion, aircraft damage, riot strike and malicious damage, storm, cyclone, typhoon and any other natural disaster.
But the actual coverage differs from company to company. You need to read the fineprint carefully before you buy fire insurance policy.
Reference :- Fire InsuranceHelpYou