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- arson drops by half
Most of never think of arson unless we are watching an old Columbo rerun. But somebody has to think about it. It turns out that arson isn’t as popular as it used to be. From 1998 to 2007 incidents of arson dropped from well over 70000 per year to around 32000 per year. Homeowner.nethas the data, and wonders whether the drop reflects a downward trend in desperation in an increasingly affluent society, or whether American’s have turned away from matches as a solution to their problems. Learn more about Arson in America here.
Fire Insurance for the Home
Home fire insurance provides protection in the event that fire damages the property and belongings as most standard homeowners policy cover these damages. This coverage is required by all mortgage companies that lend money to homebuyers. If a homeowner has paid off a house and has complete ownership, they might consider continuing the house fire insurance through a homeowners policy with their original or a new provider. Many different agencies offer this coverage through homeowner’s policies, and consumers and homeowners are encouraged to investigate what their current policies do and do not cover.
Generally, there are many things that homeowner’s policies cover, such as damage from fires and other natural disasters that can unexpectedly strike at any time. Many homeowners with coverage are not aware of everything that their house fire insurance covers. For example, not only does home fire insurance cover any loss caused by fire, but it may also cover a burglary and vandalism to the home. This type of plan through a homeowner’s policy will also include liability coverage in case a person is harmed on the individuals property or in the home.
Too often it is after disaster strikes and destroys property that those who own a home look into coverage. Not knowing exactly what is covered by house fire insurance, victims struggle to recall every item lost, or spend hours attempting to put a price on the items that need to be replaced. While it is good to know that the house and the contents are covered by home fire insurance, it is also a good idea to make an inventory list of all personal items and the value of each before a claim is necessary. Being prepared ahead of time will make a devastating situation less stressful.
Fire Insurance
Fire insurance typically provides protection only for dwelling (home) without medical expenses. It covers only the structure itself without covering personal belongings. It covers against of major perils such as fire and water. Additional coverage can be added to properly protect your property.
A fire at a business can devastate a business. The structure may be damaged beyond repair. Business revenues are disrupted as the business cannot remain open. In the United States in 2006 there were 1.6 million fires reported resulting in $11.3 billion in direct property loss. It is a risk that must be insured against.
Most property insurance policies and business owner policies cover fire losses. Most business property insurance policies are broad form policies. These policies list a number of perils that are covered by the policy and exclude perils that are not covered.
However, fire insurance can be purchased as a specific peril policy or the coverage increased by a specific endorsement. It is important for the business owner to understand what is not covered under a traditional broad form policy and ways to increase coverage. It is important to review what are appropriate considerations when reducing premiums and what are not effective ways to save premiums.
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