Will Standard Fire Insurance Plans Cover My Needs?

In general, standard fire insurance plans cover the basic costs of replacing and repairing structures and equipment. However, the coverage may not be adequate if you have certain considerations.

When Extra Coverage is Needed

There are times when standard coverage won't meet your needs in the case of a fire. You can add riders to your policy to cover nearly any circumstance.

  • Expensive collectibles. If you have an expensive collection of comics, rare books, or some other valuable that would be difficult to replace, you may want to provide your agent with an appraisal and request additional coverage for the property.
  • Jewelry. Jewelry is typically not covered under standard insurance and requires both a separate rider and a professional appraisal of the value of the collection in order to be covered.
  • Fire caused by natural disaster. If the fire was a result of an earthquake, typhoon, or other natural disaster, you may need additional coverage to guarantee protection.
Obtaining Insurance

Make sure you carefully read the provisions of your insurance and understand what is covered as well as what is excluded from coverage. Talk to your agent and make sure all of your questions are answered. Don't hesitate to obtain a second quote to make sure you are getting the best coverage at the best price.

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