How your home insurance can protect you from fire.

Fires are one of the most common and most devastating threats that homeowners face.  This is why many property owners are so concerned about what their homeowners insurance in Lubbock, Texas, will cover when it comes to fire damage.  Here’s how your home insurance has you covered.

  • What Does Home Insurance Cover When It Comes to Fire?

Standard homeowners insurance policies will offer coverage for both fire and smoke damage to your home and belongings.  You have this coverage regardless of where a fire starts.  For instance, if your home sustains damage from a fire at your neighbor’s house, your insurance will still offer coverage for repairs.  Most home insurance policies also offer coverage for the damage caused by wildfires.  However, if you live in an area with high wildfire risks, then your policy may limit the amount of wildfire coverage that you have.  You may have to secure endorsements or supplemental insurance policies to get the comprehensive protection that you need.

If the fire damage that your home sustains is particularly expensive, it may not be safe to remain in your home.  In this case, you can access the additional living expenses (also known as loss of use) coverage included in your homeowners policy.  This coverage will help you pay for temporary housing as well as essentials such as food, laundry services, parking, and so on while your home is being repaired.

The only time your homeowners insurance will not offer coverage for fire damage is when you or anyone named on your policy caused the fire on purpose.  Intentional acts of damage are never covered by insurance.

  • How Much Does It Cost to Repair Fire Damage?

Your repair costs will vary depending on a variety of factors.  For starters, the extent of the damage will affect the cost of repairs.  The value of your home, the area where you live, and local labor and building costs will also affect how expensive your repairs are.  In fact, fire damage restoration can cost anywhere between $3,157 to $29,118.  The national average cost of fire restoration is about $13,761.

This is what you need to know about fire damage and your homeowners insurance in Lubbock, Texas.  Do you have additional questions about your home coverage?  If so, then contact the experts at Promised Land Insurance Group.  We are ready to assist you with all your homeowners insurance needs today.

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