Insurance For Fires: Which Plan Is Right For You?

Without the proper insurance fires can wreak havoc with your life and business. It's important to understand what kind of fire insurance is best for you.

Types of Fire Insurance

Fire insurance may be a provision within a homeowner insurance policy, commercial property coverage, or commercial casualty.  Each provide different coverages depending on your needs.

What is Covered

  • Physical damage to property
  • Replacement of equipment, furniture, household goods
  • Water damage
Choosing a Policy

When choosing a commercial policy, make sure it has the provisions to cover the items you would need to replace if lost in a fire. Be sure to consider lost income for business coverage; while commercial property insurance may cover the building and equipment, you will need casualty coverage to protect you from lost revenue.

For homeowner coverage, consider including the following coverages:
  • rebuilding/replacing the structure
  • replacement of furniture, fixtures, and household items
  • displacement coverage (to pay for rent or hotel costs if you cannot remain in the home)
  • replacement of personal effects, like clothing

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