Integrity Residential Brokerage LLC

Does home insurance cover fire damage?

by Catherine Marrone 08/12/2024

Homeowners insurance and fire coverage featured image

Knowing what coverages your home insurance policy offers makes all the difference in securing your home. Emergencies such as house fires can happen fast, so having the right policy secures your property when disaster strikes. 

Does homeowners insurance cover fire?

Standard homeowners insurance offers coverage for fire damage. This coverage typically extends from the interior of the property all the way to detached structures such as barns, fences and sheds. 

If you’re misplaced from your home as repairs are made, standard policies also pay for temporary housing and food. 

Replacement cost versus fair value

It’s crucial to note when choosing a policy, some plans do not offer replacement costs for items. Instead, they may offer fair value price. Replacement cost is how much the item is originally worth, whereas value cost is the amount it would currently sell for in the market. 

Natural disaster coverage

Many damages caused by natural disasters are also covered under standard homeowners insurance. These perils include, but are not limited to: 

  • Hail storms.
  • High wind damage.
  • Hurricanes.
  • Lightning strikes.
  • Etc. 

Fire protection

It’s reported by the National Fire Protection Association over 300,000 house fires happen yearly. 

Dwelling coverage protects your home structure if fire damages occur. Personal property coverage financially compensates for personal belongings damaged by fire.

Having the right coverage and understanding compensation options is important to make an informed decision when choosing the best plan to protect your household.

About the Author
Author

Catherine Marrone

A licensed MA & NH Realtor for 30+ years located in West Newbury, MA representing buyers & sellers in all price ranges specializing in horse farms, equestrian facilities, country estates, first-time buyers, move-up buyers, seniors and relocation.  
Whether you're a buyer or a seller, as my client you will receive the utmost attention with clear and timely communication throughout the entire transaction. I am known among my past clients for my integrity, honesty and willingness to "go the extra mile" for buyers and sellers.   
Contact me today! Let's make your real estate goals a reality!