Fire Insurance | Dwelling Fire | Aseguranza de Auto

Fire Insurance

A homeowners insurance policy generally offers coverage against a wide variety of property damage as well as civil perils, but home insurance can be expensive to have. A home fire insurance policy (Dwelling Fire Insurance) offers more specific and comprehensive coverage. Fire insurance is made more specifically for property damage in specific scenarios. These policies may be more affordable. This policy can be very useful for those who live in fire-prone areas such as California.

It could be thought of as an alternative to a policy. home insurance . As we mentioned, the fire insurance policy covers more than fire damage.

Broader coverage

Dwelling Fire insurance offers you a wider variety of coverage options and flexibility to protect your assets. You might think that the coverage of this policy is limited to fire and smoke damage. It is not, in fact, it can be similar to a normal house policy. Home fire insurance protects you against explosions, vandalism, and some damage related to wind and lightning. A home insurance policy covers everything except the list of exclusions that are normally what fire insurance covers and you can get those covers, but for an extra price.

This leads us to the fact that, if you are looking to protect your home against fire and physical damage, obtaining home fire insurance is the option for you. Depending on what you need, it can protect more than the structure. You can also protect the contents of your home. You may be reimbursed for the value of your home or what it costs to replace it in the event of an unfortunate event. A fire policy can be helpful for structures that are older or have previously had insurance claims for loss or damage. As well as for secondary or rental residences.

Types of Fire Insurance

Just like home insurance policies, there are different types of fire insurance.

Fire Insurance DP-1 Basic Coverage (DP-1 Basic Form):

It covers certain specific damages and losses for:

  • Fire
  • Lighting
  • Internal explosions (oven, stove, water heater, etc.)

There are optional additions to this type of home fire insurance:

  • Vandalism and intentional damage
  • Extended coverage: which includes coverage for damages for the following:
    • Hail and windstorms
    • Other explosions
    • Civil demonstrations
    • Air or ground vehicles
    • Volcanic eruptions

Claims for damage with this variant of fire insurance are settled at the current value of the home, although you can choose to be reimbursed whatever it costs to replace it entirely for an additional cost. This may be the best option for secondary or vacant properties.

DP-2 Broad Coverage (DP-2 Broad Form)

Also covers specific damages and covers the same as the basic one but with some additions included:

  • Vandalism and intentional damage
  • Damage from thieves
  • Weight of ice and snow
  • Broken windows (as long as the home was not vacant for 60 days or more before the loss)
  • Accidental discharge or overflow of water (as long as the home was not empty for 60 days or more before the loss)
  • Objects that could fall on him
  • Freezing pipes
  • Electrical damage
  • Collapse (due to deterioration or infestation of insects such as termites)
  • Tearing, bulging, cracking or burning.

Extended coverage: which includes coverage for damages for the following:

    • Hail and windstorms
    • Other explosions
    • Civil demonstrations
    • Air or ground vehicles
    • Volcanic eruptions

The difference is also that the comprehensive coverage reimburses you for the replacement cost.

Loss of rent coverage can be included with a DP-2 policy. If tenants are forced to move out while the landlord repairs the home due to a covered loss, this coverage would reimburse the landlord for the rent lost in the process.

DP-3 Special Coverage (DP-3 Special Form) – Fire Insurance

This is the one that is more comprehensive, not only covers specific damage
cific. It is open to more types of damage or practically any damage that can happen to the home. It means that the property will be covered against any damage, except for what is excluded in the policy. However, material possessions are covered under specific damages.

DP-3 coverage may have several things excluded but typically some or all of the following are:

  • War
  • Water damage
  • Laws or ordinances
  • Negligence (carelessness)
  • Intentional loss by the insured or residents of the home
  • Mildew, rust, rot, or gradual loss
  • Earthquakes

Whether you are seeking coverage for your primary residence or a rental home, we can provide you with the coverage you need in fire insurance to meet your needs. And remember that we can also protect your business.

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Posted ByItzel DominguezOnOctober 15,2020

Itzel Dominguez

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