Fire Dwelling Insurance
Whether you own a home or rent an apartment, you likely have some basic home insurance coverage to protect you in case of accidents. A comprehensive policy can cover everything from damage due to a burst pipe to the theft of valuable property from inside the property.
Dwelling fire insurance offers narrower coverage tailored explicitly to specific hazards. It’s usually more affordable than a standard home insurance policy because it’s more precisely defined.
Fire is one thing this type of policy covers. Given that 27% of reported fires take place in homes, it’s a valuable investment. However, dwelling fire insurance covers far more. The name is misleading in this respect.
Why You Might Need Dwelling Fire Insurance
Dwelling fire policies are useful if you have a property that you don’t inhabit yourself. You might want this type of policy for a vacation home, vacant property, or rental house you own but don’t use.
The policy will cover the defined incidents that occur even if you, the owner, aren’t present.
Say you have a beach house that you rent out weekly on a platform like Airbnb, for example. If your short-term tenants cause a kitchen fire, your dwelling fire insurance can cover the repairs.
Types of Dwelling Fire Insurance Policies
Just as with regular home insurance, there are different types of necessary dwelling fire insurance policies.
A basic policy will cover “named periods” and losses due to lightning, fire, and internal explosions, like a water heater. You can also expand this type of coverage to include smoke, volcanic eruptions, riots, other explosions, and hail or windstorms – to name just some of the options.
A broad dwelling fire policy will cover the same points as a basic policy but allow for more additions. Possibilities include falling objects, frozen pipes, electrical damage, glass breakage, burglary damage, among others.
You can also get particular dwelling fire policies, which is the most comprehensive option. It consists of an “all-risk” policy. In this case, instead of covering exclusively events named in the policy, the policy is assumed to cover everything except for defined exclusions detailed in the policy.
Exclusions seen in these particular policies might include neglect on the part of the property owner, war, or gradual losses.
For example, if you notice a mold issue and don’t get it fixed, your entire property can eventually become unlivable due to mold’s health risks. This is a gradual loss because it occurred over time and could have been prevented.
Protect Your Property with Dwelling Fire Insurance
Knowing which type of dwelling fire insurance plan to get can be difficult. Insurance By Castle can help. We have been in business for three generations, fostering client trust and loyalty with honest service.
As we aren’t affiliated with any insurance provider, we can search the entire market to find affordable coverage without needless costs. See what our former clients have to say online.
Request a quote below or call (800) 644-6443 for questions.