Why Fire and Perils Insurance is a good idea

Having fire insurance can save your home and you from financial disaster. Normal day to day activities in a home could leave it exposed to the possibility of a fire that could threaten your home and belongings. You work hard to have the things that you and your family deserve and the last thing you want is to risk it all by not having enough insurance coverage.

It’s not the only cooking or staying warm by the fireplace that pose a risk but in fact there are other things that homeowners tend to forget about, like burning candles or incense.

Many homes have a smoke alarm but at times that may not be enough. A properly functioning smoke alarm can be a great early warning to alert you of a fire with enough time to get your family to safety and call the fire department. But what many forget to remember is fire can spread rapidly, and there is no guarantee that your home won't be seriously damaged or totally consumed by fire. 

Fire insurance coverage can come with the benefit of reimbursed additional living expenses. if your home is destroyed or damaged enough by a fire to the point that it's not safely habitable, a fire insurance policy will often pay for the reasonable increase in your living expenses, such as the additional cost of hotel stays, restaurant bills, etc.

A standard fire policy provides cover against:

• Lightning unlimited cover - lightning damage from any source, whether accompanied by rain or not
• Explosion limited cover - explosions arising from gas works used for domestic purposes, lighting or heating the building

There are additional cover policies that can be added to cover the following losses which may be incidental to fire although there must be actual fire before cover can be allowed:

• Property damaged by water or other extinguishing agents used in extinguishing the fire
• Property that may be destroyed or blown up to prevent fire spread
• Damage done by fire brigade in an attempt to extinguish or contain the fire
• Damage to property occasioned by falling walls or part of a building in which fire occurrence has taken place
• Smoke damage if preceded by fire. No cover if there was no fire e.g. malfunctions of lantern or gas lamps