What You Need to Know About Fire Insurance
The Thomas Fire in LA blazed over 40 days and is expected to have repercussions that last for decades. Nearly 282,000 acres have been burned, and more than 1,000 structures were destroyed.
If you’ve been affected by this tragedy, it’s important to understand your fire insurance policy and what type of fire insurance coverage you have.
Be sure to do your research before talking to a claims adjuster or making any fire insurance claim.
What is fire insurance?
Fire insurance covers replacement, reconstruction, or repair of property damaged by fire. It generally covers damage to the structure and personal property. It may also cover damage to nearby structures and costs incurred from being unable to live at the property until repairs are completed. It serves as a supplement to business insurance.
Does fire insurance cover all fire damage?
Fire insurance is intended to cover all damage directly caused by fire. It does not necessarily cover smoke and soot damage. The implications of that damage can be severe, potentially adding tens of thousands in cleaning costs before a property is safe to reinhabit. It also does not cover theft or looting that happens in the wake of a fire.
How long do I have to file a claim?
In general, you should file a claim as soon as you can. Once you become aware of fire damage, contact your insurer right away to let them know a claim will be forthcoming. You should always strive to file a claim within five business days. If it will take longer – due to being displaced, for example – be sure to follow up and keep the insurance company updated.
What could endanger or invalidate my claim?
Failure to promptly file a claim is the most significant threat to most claims. However, even insurers typically make allowances for customers struck by major disasters like the Thomas Fire. Consult your insurance policy: You might find you have a duty to prevent further damage to the property. For example, if there is a hole in the roof, you may be required to put up a tarp.
A disaster like the Thomas Fire is difficult for anyone. You deserve support from experts who care. Paramount Adjusters is a leading team of public adjusters dedicated to protecting your interests during any insurance claim – not those of the insurance company.
We’ll help you know if there are still damages to be addressed or if you may be eligible for a larger settlement. Contact Paramount Adjusters today for a free, no-obligation inspection and claim review.