Understanding Fires And Your Home Insurance Coverage – The 2023 Guide
As homeowners, fire is one of the most distressing disasters we may face. While contemplating flames engulfing your home is unpleasant, ensuring you have sufficient cover for this reality is vital.
Home insurance usually covers fire damage. However, understanding your policy’s details ensures you have adequate coverage if the unthinkable happens.
With one out of three homes in South Africa being under-insured, it is critical for homeowners to regularly assess their level of cover. In today’s blog, we’re reviewing some things that you should keep in mind when it comes to fires and home insurance.
UNDERSTAND WHAT YOUR POLICY COVERS
Home insurance policies typically cover damage caused by fires, including damage to your home and personal property.
However, there may be limits to how much coverage you have. Speak to your insurance broker to review your policy, to make sure you have an appropriate amount of coverage for the type of loss that you might suffer in the event of a house fire tragedy.
ADDITIONAL COVERAGE IS WORTH PREVENTING THE EXTRA BURN
If you have valuable items in your home, such as precious jewellery or artwork, it may be worth your while to consider adding additional coverage to your policy.
Additional coverage will ensure that special, “priceless” items are fully protected in the event of a fire.
You may also want to consider adding coverage for additional living expenses, which will assist you and your loved ones in covering the cost of temporary housing and other expenses that are required when your home has become an uninhabitable environment after a severe fire.
KEEP AN INVENTORY OF YOUR BELONGINGS
In the event of a fire, it can be difficult to remember everything that was lost. To make your claims process easier, it is a prudent idea to keep an inventory of your belongings.
If possible, try to include photographs and receipts of your belongings, as this can help ensure that you receive the full value of your lost items when you file your claim.
TAKE STEPS TO PREVENT HOUSE FIRES
While home insurance can provide financial protection in the event of a fire, it’s always imperative to prevent fires from happening in the first place!
A few simple ways to implement this is by:
- Ensuring that your home has functioning smoke detectors
- Avoiding the overloading of electrical outlets
- Never leaving a functioning oven, stove or microwave unattended
- Keeping flammable materials, such as curtains, blankets and dishcloths, away from heat sources.
KNOW WHAT TO DO IN THE EVENT OF A FIRE.
In the event of a fire, it’s important to act as quickly, urgently and efficiently as possible.
If the fire is small, you may be able to put it out with a fire extinguisher. If the fire is larger, evacuate your home and call the fire department immediately. Make sure you have a designated meeting place outside of your property where everyone in your household can safely gather.
HAVE WE SPARKED YOUR CONCERN?
Proper home insurance gives you and your family reliable peace of mind and essential financial protection against one of the worst risks for homeowners. With the right cover and safety steps, your home and finances need not go up in flames.
Get in touch with our team of expert insurance brokers for more advice on your home insurance policy.