Although no one expects a fire outbreak in their home, it happens to many people every year. According to the National Fire Protection Association®, residential homes accounted for 73% of structure fires in 2018, which caused approximately $8 billion in property damages. As such, it’s crucial to ensure you have adequate homeowners insurance. While a standard policy offers fire coverage, it’s not always enough to prevent significant financial loss. Fortunately, you can purchase fire insurance for additional protection. Here are some of the benefits this provides.

3 Reasons to Invest in Fire Insurance

1. Cover the Cost of Rebuilding

A regular homeowners insurance policy will pay for fire damage to your dwelling up to a certain limit. Should you experience a total loss, this may not cover the cost to completely rebuild your home. Fire insurance will help cover your losses above the maximum amount your insurer will pay out on your normal policy. It will also give you more protection for damaged personal belongings.

2. Pay for Temporary Housing

Often, homes are inhabitable after a fire—even if it doesn’t burn completely. This means you’ll need to stay somewhere else until repairs are finished. In cases of severe fire damage, it can be months before you can move back in. Fire insurance will reimburse you for any costs you incur while living away from home, such as hotel or rental expenses, restaurant meals, and laundry services.

3. Receive Protection for Smoke & Water Damage

Unlike a standard homeowners insurance policy, fire insurance also includes protection against any smoke and water damage that occurs as a result of the fire. Typically, it will cover damage to your home and possessions for up to a year following the event.

If you’re interested in learning more about fire insurance, reach out to Absolute Insurance Agency in Foley, AL. They’ll ensure you have sufficient homeowners insurance to protect you from any disaster that might arise. Backed by over 30 years of combined industry experience, their agents are equipped to provide you with reliable coverage recommendations and assist you in finding the best price available. Call (251) 942-6837 to arrange an appointment, or visit them online for additional information on their services.