Home Wildfire Coverage
In October of 1991, a deadly fire raged through Oakland, California. It was the most costly fire in United States history, and caused some $2.7 billion (2008) dollars in damage.
The Oakland fire was a wake up call to many homeowners. Few people realize that there is a 1 in 10 chance that a fire will damage a home over the course of its 30-year mortgage. The riskiest states for wild land fires in the U.S. include (in order of most fires to least):
- Texas
- California
- Oklahoma
- Georgia
- North Carolina
- Alabama
- Florida
- South Carolina
- Mississippi
- Arizona
What Do Typical Homeowner's Insurance Policies Cover?
Typical homeowner's insurance policies do cover fire damage. However, some coverage may not be adequate, and it may not include the full contents of your home. There are also different types of fire coverage for homeowners, including "replacement cost" and "actual cash value." Actual cash values factor in for the depreciation, or loss of value, of your household items over a number of years. Replacement cost will cover the entire item.
We'll help you find the right home insurance with fire coverage. The time to start is now!
http://www.iii.org/prepare/be_prepared/wildfire/wildfireqanda/
http://www.iii.org/media/facts/statsbyissue/wildfires/
http://moneycentral.msn.com/content/Insurance/Insureyourhome/P59648.asp