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Fire & Water - Cleanup & Restoration

Fire Insurance Gaps: 3 Important Facts Every Homeowner Should Know

10/1/2021 (Permalink)

A businessman show insurance concept with a burning house Having a keen understanding about insurance coverage gaps and whether you can rectify them can give you peace of mind as a homeowner.

3 Things Every Homeowner Should Know About Fire Insurance Gaps

When a Costa Mesa, CA, home fire strikes, the results can be devastating. Valued possessions may be lost or damaged and your house may need extensive repair. However, before you file a claim or expect your insurance policy to cover fire damage and restoration service costs, you may want to learn about a few common coverage gaps and under which circumstances you may be denied compensation.

1. Intentional Fire

While fires set by curious young children playing with matches or lighters are usually considered accidental and not arson, fires that are set deliberately as a means to collect the insurance money are not covered if any evidence of an intentional fire is uncovered. If you believe a home fire at your residence was caused by accident, you can probably expect to have the blaze thoroughly investigated before you receive any kind of insurance payout.

2. Fires at a Vacant House

Most insurance companies consider a home as being vacant if has been unoccupied over thirty days in a row. If a fire should break out in such as residence, you may not be entitled to any insurance coverage. While the burden of proof will likely fall on your insurance provider, this coverage gap could end up costing you thousands of dollars in repair and restoration costs.

3. Exceptions

When it comes to receiving compensation for a vacant home fire, you may have several options to avoid a coverage gap. If you have a vacation home that you only occupy part of the year, then it is wise to ask your insurance agent about vacant residence coverage, which protects your unoccupied vacation home from fire and other disasters. This policy is typically separate from your homeowner’s insurance but may pay for itself if vacation property should ever catch fire.

A home fire at your Costa Mesa, CA, residence can be frightening as well as costly. Having a keen understanding about insurance coverage gaps and whether you can rectify them can give you peace of mind as a homeowner.

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