August 3, 2023

How to Recover after a Fire in California

According to the National Fire Protection Association, every 24 seconds, the fire department responds to an incident in the United States. Unfortunately, American households incur losses worth billions of dollars due to fires each year. Some common causes of fires in California include wildfires, electrical defects, cooking, heating equipment, and clothes dryers. A fire incident can quickly gut a property, causing extensive damage to furniture, home appliances, walls, interior decor, and valuable personal items. Most fires are caused by factors beyond your control, highlighting the need to plan ahead, including buying fire insurance. If you’re looking to protect yourself from fire-related losses, consider purchasing the right homeowners’ policy for your Northridge, CA, property. Speak with insurance professionals today about your options.

The Principle of Fire Insurance

Most standard home insurance packages protect your home from fire damage. Alternatively, you may buy a separate fire insurance plan to supplement your home insurance plan if you have a second home or live in an area susceptible to forest fires. Approximately 2 million properties in California are at high or extreme risk of wildfire damage. In 2021, there were about 9,300 fires that burned 2.2 million acres of land, a clear testament to the need for California homeowners to prepare for fire risk. Fire insurance pays for repairs and replacement if a fire damages your home. If a fire damages your home, your insurer will pay the actual cost or replacement cost to repair or replace your property.

How Insurance Can Help You Recover After a Fire Incident

Get a New Property

Depending on the cause, fire can cause extensive structural damage. In addition, fire leaves ash and smoke that can cause corrosion, wear on the glass, and discoloration of walls and exterior surface. If the fire damage is extensive, it might necessitate the construction of a new building. Fortunately, fire or home insurance covers the cost of replacing buildings. The insurer can pay the replacement value, the cost of replacing the damaged property, without a depreciation deduction.

Living Cost Coverage

After your home is damaged by fire, you’ll be forced to find alternative accommodation while you process your insurance claim. For example, you may require an Airbnb for a few weeks translating to additional living expenses. Fortunately, homeowners insurance covers the additional living expenses associated with the fire to improve your recovery after a fire incident.

Protection Against Third-Party Liability

A fire can bring unexpected loss — a fire damage to a neighbor’s property or injuring a third party. Home or fire insurance can help pay for arising liabilities such as legal expenses, medical expenses, or the cost of replacing or repairing lost items.

Speak to an Experienced Homeowners Insurance Agency

Most fire incidents result in extensive damage to the building and personal assets. Unfortunately, replacing damaged items or refurbishing the burnt building can prove an uphill task. However, insured homeowners will likely receive a fire-related payout to cope with the loss. At Panorama Insurance Agency, we work with multiple insurance providers to find our clients the most tailored package that fits their needs. Contact us online or call us at 818.696.4045 to request a quote.

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