If you’re living in certain areas with grassland, you’re prone to wildfires. Therefore, wildfire insurance might just be worth it. Keep reading to learn more about this coverage.
What Is Wildfire Insurance?
A standard home insurance policy from state-approved insurers typically includes wildfires among the fires they cover. Still, things are changing. Since 2017 and the increase in wildfire damage across the west, insurers in high-risk states are boosting premiums.
It’s important to review the covered and excluded perils in your policy or quote to make sure wildfire is a covered peril. Insurance coverage varies but typically should cover damage from smoke and fire to:
- Your home’s building or structure
- Any additional structures on the property, such as a garage, shed, or apartment
- Landscaping, pool, patio area, and contents
- Debris removal
- Personal property or contents inside the home
- A building code upgrade may be standard or optional
- Additional living expenses
What Will Your Insurer Pay in the Event of a Wildfire?
Each policy differs, so you’ll need to check your limits and coverage. If you live in a wildfire-prone area, it’s important to ensure you’re not under-insured. This means that if your home destroys, you’ll receive enough money to rebuild with the same features at current new-build prices.
How Are Claims Settled in a Wildfire Insurance Case?
The insured must file a claim form within 15 days of the date of the fire to seek compensation. The claimant must provide photos of the damages. Though clearing debris and cleaning up is helpful, be careful not to destroy evidence of the fire or damages. Wait until the claim is processed.
Can an Insurer Deny a Claim for a Wildfire?
Insurance companies can deny a claim if they think the damage claimed is excessive or inflated. Sometimes, it may be if the homeowner’s policy was in arrears at the fire. Keep your insurance policy payments up to date!
