3 Things to know About Fire and Your Insurance

7/18/2019 (Permalink)

Fire loss in a Mayfield, OH home

3 Things to know About Fire and Your Insurance

When you live in Mayfield, OH, having renters insurance can be an important factor in maintaining your apartment. Renters coverage can be helpful in a number of ways, but one of the most common people think of is fire coverage. Here are a few things you may want to know about your policy and how it can help in the event a fire starts.

1. What Your Insurance Usually Covers

Most renters policies consider fire damage to property within the apartment as a covered peril. This means that cost of any personal items you bring into the residence damaged by a fire should be under your renters policy. Damage to the structure of the apartment may be considered the landlord’s property, and thus may be covered by their policy. Your coverage may include loss of use instead.

2. What Types of Coverage May Be Available

There are many policy types under renters insurance, and each is designed differently. For example, the term actual cost is used when referring to the value of an item while replacement cost is the cost it would take to replace that item. Most policies cover replacing damaged property. Liability coverage would apply if you were accidentally responsible for causing the fire, and loss of use may be there in the event a fire renders the apartment inhabitable.

3. What To Do if a Fire Occurs

In the event a fire does occur it’s important to contact your agent as soon as you can. This way they can begin the assessment quickly and you can contact a fire restoration service to begin any repairs. In many cases your insurance agent may even have a company they recommend to do the job.
In many cases your renters insurance can include coverage depending on where and how the fire starts. In some cases the fire may fall under the responsibility of your landlord so it’s important to know exactly what your policy contains. If a fire does occur it’s important to contact your agent, and then a restoration service in order to begin repairs as soon as you can.