Depending on where you live, wildfires may be a very clear and present danger for you, and your belongings. It is very possible that there may come a day when your local government informs you that you need to evacuate your home—anything you can’t fit in your car, you leave behind. Knowing that, it becomes all the more important to make sure that you have an insurance policy that will protect your finances.
Many homeowners insurance policies cover everything you would need should a wildfire consume your home, however not every homeowners policy does. If you do live in an area that is considered at risk of wildfires, take a close look at your homeowners policy. A good homeowners policy will include at least the following provisions:
Most standard homeowners policies cover fire damage to the actual structure of your home , up to a point. Take the time to ensure that the amount you are covered for is at least close to what it would cost to replace your building. If you have done any work on the house since the last time it was appraised it’s probably worth updating your homeowners policy.
Damage To Your Belongings
A good homeowners policy will also offer financial protection for the total value of your belongings. It’s important to accurately estimate the value of your belongings so that you are able to replace everything that’s lost in a disaster situation. It’s also interesting to note that if you are a homeowner, this often covers trees and shrubs that are lost as well.
A Place To Live
Losing your home to a fire is devastating. It’s a bit less so if you are properly insured, but even if you do get the full value of your home and belongings back where are you supposed to live? A proper homeowners insurance policy will include a provision that reimburses you for any additional living expenses you occur as a result of a disaster, like hotel rooms and meals out.
Wildfires are a problem that are not going away. If you live in an area that’s at risk of wildfires it’s important to purchase an insurance policy that will protect your finances should the worst happen. You may need to evacuate, but you shouldn’t evacuate your bank account too.
As with any insurance decision, it’s important to consult with an insurance professional before signing anything. The staff at TGS Insurance are always happy to help you with any of your insurance needs. Visit www.tgsinsurance.com for more information.