The Ultimate Guide To Insurance And Fire Damage

Most people worry a lot more about their vehicle breaking down than they ever do about it catching fire. Most people worry more about having an accident than they ever do about their vehicle catching fire. This could be a big mistake on your part. Vehicles catch on fire a lot more often than you can imagine. If might be from a some sort of mechanical issue or from an accident. The fire could be in your vehicle or a vehicle you hit. Are you covered for fire damage to your vehicle or the other driver's vehicle?

That's going to depend on the auto insurance coverage that you have. When you have a vehicle that is paid for free and clear, you have the option to only have liability coverage. If you choose to only have liability coverage, if you cause an accident involving another vehicle, this insurance will cover most damages and injuries to the other vehicle and driver, but not you and your vehicle.

If you have collision insurance on your vehicle, fire damage resulting from a wreck caused by you or someone else will likely be covered. If you have engine problems or something besides an accident, your collision insurance will not cover the fire damage. Collision insurance is only good for damages that are caused by collisions.

Comprehensive insurance coverage will cover fire damage to your vehicle if it's started by a wildfire or some other natural phenomenon. Comprehensive insurance covers things that do not fall under the control of the driver. Things like hitting a deer or a rock slide are covered because you did not cause them. It will not cover fire or any other damage caused by collisions.

Full insurance coverage is always the best option to purchase if you can afford it. Although, even full coverage may not cover every little thing, it does cover most things. A fire under the hood of you vehicle can cause significant damage no matter what caused it and if you want it to be repaired or replaced, you need to know exactly what your specific auto insurance policies entails. It is always best to have full coverage so that both you and another vehicle and driver you might hit are all covered to some degree.

Does Renter's Insurance Cover Fire Damage To The Apartment?

Renter's insurance is something everyone needs if you are renting an apartment or home. The most specific purpose of renter's insurance is to cover your personal belongings. It does not matter how the fire started, unless you set it intentionally, and then no insurance policy is going to cover that. If a fire started in the apartment next to you that caused fire or even smoke damage to your belongings, that would be covered under your renter's insurance policy.

If you accidentally start a fire in the place you are renting because you knocked over a candle or you left something cooking on the stove, then a renter's insurance policy will most likely help you cover at least some portion of the damage to the dwelling.

As with any other type of insurance policy, it is important to know all of the details about what your policy will and will not cover. You need to know what the maximum coverage is in all circumstances. A lot of people really hate to have to sit down and discuss insurance details with an insurance agent, but believe it, it is always in your best interest to do so.

Who Is Liable For Fire Damage, Tenant or Landlord?

In the event of a fire in a rented home or apartment, how the fire started is going to be key in determining which party is responsible for the damage. If an electrical issue or a neighbor in the apartment next to you starts the fire, then your landlord will be responsible for repairing any damage to the living space.

However, that does not mean he or she will be responsible for replacing your personal belongings. As stated above, that's why you need renter's insurance. Your landlord is most likely not going to be responsible for getting you another place to stay while the home is being repaired either. If you have renter's insurance, this could cover a temporary dwelling to live in while you wait.

If you start the fire, your landlord can sue you for damages to their property. Even though the landlord's insurance may cover the damage, his or her insurance company can come after you to reimburse them if it is your fault. If you are protected by renter's insurance, then that will help cover at least some of the expense you may incur by being sued for damages. Another reason to have a renter's insurance policy.

Does House Insurance Cover Fire Damage?

When you are the owner of your home, your insurance policy should always cover fire damage since fires are one of the leading causes of home damage and destruction. Home fires can be started by a multitude of different things.

Cooking fires, such as those involving grease, are one of the most common reasons, but fires can also be caused by other accidents like burning candles or placing things too near space heaters or fireplaces. Electrical fires are another possible reason fires get started in the home. If you smoke inside your home, that can easily start a fire if you are careless.

If your home catches fire because of lightening or a wildfire, you should also be covered for those reasons. There are two types of fire damage that a home insurance policy will not cover and that is arson by the home owner or if the home is vacant. Most standard home insurance policies don't cover fires in a vacated home because of the increased risk of fire, theft, vandalism and other things that could happen while you are gone. If you need to leave your home for any extended period of time or you are often away on business, check with your insurance agent about getting an additional policy that will cover your home while you are away.

Once again, how much fire or other damage your particular home insurance policy covers will depend on how much coverage you initially purchase. A qualified insurance agent will look at the value of your home and the belongings you have inside and will suggest how much coverage you need. The more coverage you have, the higher your premium will be. If you have a mortgage on your home, the lender will require that you have home insurance. In some cases, the lender will include the cost of your insurance in your monthly mortgage.

Always consider the deductible amount carefully when purchasing any insurance whether it be for your vehicle, your own home or a renter's policy. The deductible is how much you will pay up front before your insurance kicks in to cover their part. A $500 deductible can mean a higher premium each month. A $1000 deductible can mean a slightly lower premium. You want to know you will be able to pay the deductible in order for your insurance to cover the rest.