Can I get insurance to cover fire damage to my home?

Is home fire insurance required?

By law, you are not required to purchase fire damage insurance for your home. However, it is highly advisable to do so, as the damage can be enormous. Without insurance, you will be fully responsible for the costs.
Mortgage lenders always require fire insurance. They lend you a large sum of money to purchase the home and, in return, require that you keep the home properly insured.

What is the insured value of my home under my fire insurance policy?

If your home burns down completely, it is important that your insurance policy provides enough coverage to rebuild the home in its original condition. The amount needed to do this is called the home’s reconstruction value.

The replacement cost can be determined by completing the replacement cost form or by having a valuation report prepared that includes the replacement cost. To maintain coverage against underinsurance, you are often asked to complete a replacement cost form every 5 years.

How much does fire damage insurance cost?

As mentioned, fire damage coverage is part of your home insurance policy. The premium for your home insurance depends on the coverage you choose, the exact location of your home, the size of your home, and so on. On our website, you can get a no-obligation quote for home insurance. You can also purchase the policy right away, if you wish.

What should I do when I move?

You must always notify the insurer of such changes. From the insurer’s perspective, it matters a great deal—in terms of risk—not only where exactly you live, but also what kind of house you live in.

What if the fire at your neighbor's house has spread to your home?

In the event of a fire that spreads to your property, you can file a claim with your insurer. In this case, it is important to fill out and submit a detailed claim form. If necessary at a later date, your insurer will seek reimbursement from the insurer of the neighbors where the fire originated.

How do I file a claim for fire damage with my insurer under a home insurance policy that includes fire coverage?

If you’ve had a fire in your home, the first thing you should do is report it to your insurer as soon as possible. When you took out your home insurance policy, you received a claim form (or you can find it online) that you can use to report the damage. It’s important to describe all the damage as accurately as possible when filling out the claim form. This helps both you and the insurer determine the extent of the damage caused by the fire and the firefighting efforts. You can also file a claim with your insurer for any expenses you incur because you are unable to stay in your own home.