myth of fire insurances

More often than not, you find that many people are usually single-minded especially when it comes to ensuring their family healthcare or children’s education. However, you realize that there are other big-ticket items like your homes and its contents that you may not pay much attention to. Fearful risks like fire can devour your cherished homes and valued items in minutes. And in most instances, there isn’t always much you can do about it once the fire has started. You only hope that the damage won’t be substantial. California is one place where fires are very prevalent and can be quite devastating. Woolsey Fire Claim works to help give you a workaround to a fire disaster just like any other insured disasters.

The number of fire accidents that occur every year alone have become more prevalent. And with that, also comes the many myths surrounding fire insurance myths. Be warned. Some fire insurance myths might look so factual to the point that they actually make sense. If you are not too careful, you might end up believing one or two of them. that’s why you may need to erect a fire insurance wall that protects you from some of these fire insurance myths

  1. Fire can’t engulf your entire home

Whoever told you this or wherever you read it from, you were deceived. Fires can occur anywhere. And if all the environments are met, a fire can spread just as quickly and end up engulfing properties in minutes. Take the fire incident that occurred in Bedok South Road in October at Block 38 where a fire devoured a whole flat. And the blaze started from tiny sparks that formed from the homeowner’s computer.

Also, it is essential to note that you can also suffer a fire incident from other vicinities near you. For example, if there is a fire incident at your neighbor’s home. If both homes are close enough, then there is a likelihood that the fire may spread to your home as well. And if it’s bad enough, also engulf your entire home and belongings as well. You never know when a fire may start in a home. Most of the time, it’s just bad luck, and you have to pay for the damages. Or make a fire claim if you had fire insurance.

However, one fact is true. Fires can devour your entire home in minutes. And in most instances, there is nothing that you can do about it except watch and hope that it doesn’t engulf everything.

  1. The reinstatement cost is affordable

During a fire hazard, even if it’s confined to one room, can result in substantial losses due to the heat, soot, and water that spreads from the fire source. If the fire causes structural damage, then you could be talking of six- or seven-digit losses. Therefore, you cannot deem the reinstatement cost to be affordable.

If anything, you find that some homeowners may not even have the finances to place a down payment for the contractors to start reinstatement works. So, you cannot go around believing this fallacy. If never bodes well with most fire accident victims. If, however, you had your home insured, then you can request for an interim payment from your insurer to commence the reinstatement works.

  1. Fire insurance covers only fire

Most homeowners still believe that fire insurance covers only the loss and damage to property that results from the fire. Think of all the permanent fixtures, the structure, and fittings.

However, it is essential to note that fire insurance also covers other perils as well. Plus, at no extra charge too. Fire insurance also covers explosions, bursting, lightning, malicious intent, riots and strikes, windstorms, floods, and earthquakes. The list is long. You may, however, want to note that some insurers can sometimes charge you for any additional premiums for some covers.

In most instances, however, it is wise also to put in extra cash to cover for the contents in your home and renovation work. Less stress to work with in case you happen to fall victim to a fire.

  1. You don’t need a fire cover if your home is fully paid up

It isn’t mandatory that you have fire insurance for your home. However, you realize that some banks and other lenders demand that you have your home fire insured to be liable for a home loan. And by that, you find that the homeowners who don’t have any outstanding loans can forego getting fire insurance covers.

However, that doesn’t make your home any safer from a fire hazard. Remember, a fire accident can happen even in the homes with the most careful occupants. You just never know when the next time you light up a match there may be leaking gas or electric circuit or wiring gone wrong.

For such instances, fire insurance works to give you a piece of mind. Almost all fires that occur in homes are usually out of the homeowners’ control. The fire may not have come from your home because you took all the appropriate measures for that. But what if it originates from your neighbor’s home and finds its way to yours? Don’t neglect to pay fire insurance even if your home is fully paid up. You never know what may happen.

  1. Fire insurance is costly

Look at it this way. If you compare the cost of fire insurance to the value of the property you’re insuring, which is costlier? And if you feel you cannot buy fire insurance for your property due to the cost, then imagine how much you’d have to put down when a fire accident occurs. Plus, premiums also tend to be a lot lower for apartments. Five-year premiums are also quite affordable for some property. At the day’s end, you would want to protect your property which will cost you a lot more than the fire insurance that you’re trying to avoid.

Final thoughts

Fire insurance is a very sensitive topic. One that has haunted many homes, especially the ones that didn’t have fire covers. Or the ones that didn’t have the appropriate fire cover practices for their property. It is, therefore, essential that you take proper measures to ensure you don’t get duped by the fire insurance myths and end up losing your claims. Follow the instructions your insurance company gives you about a fire claim. This is the only sure way you can keep your claim safe should you ever need to file it in the future.