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 Posted: Mon Jan 19, 2009 8:19 am Post subject: fire insurance uses.. |
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How good is fire insurance? Can it really be used effectively?
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PopCornZiggybee
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| Posted: Mon Jan 19, 2009 12:10 pm Post subject: |
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Hi Popcorn, fire insurance can certainly be used effectively but for that one need to understand the various component of it. Most of the homeowners though buy fire coverage but hardly understand how it works.
You need to understand first what are the items covered under the fire policy. Most of the fire insurance covers the dwelling, personal belongings, additional structures like the garage, summerhouse and the loss of use coverage.
Another important part of a policy is the exclusion part. This area would include the items and conditions excluded under your fire policy. |
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jeorge
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| Posted: Mon Jan 19, 2009 12:15 pm Post subject: |
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| Quote: | | How good is fire insurance? |
It does what it is intended to do.. | Quote: | | Can it really be used effectively? |
To pay for fire damage yes...but in most cases it is not a good choice...as it is severely limited peril wise. In my experience most 'fire' policys are for non-owner occupied dwellings (rental property etc)...what are you wanting the policy for?
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Lori
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| Posted: Tue Jan 20, 2009 12:06 am Post subject: |
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| Today, it is difficult to foresee if a disaster is going to hit the home, and having a home insurance helps alot when disaster strikes. Home fire insurance is useful as fire is a common danger that might happen anytime and anywhere. |
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fireyone
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| Posted: Tue Jan 20, 2009 9:31 am Post subject: |
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hi..I think its a known truth that fire insurance is a good cover from unforeseen destruction caused by fire which may even lead to considerable worth of property damage. If you're able to pay higher premium your coverage may even be extended to cover other perils e.g. Terrorist attacks, Catastrophic storms, Earthquake, Malicious damages, Flood etc.
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anonymous00
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| Posted: Tue Jan 20, 2009 11:15 am Post subject: |
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Hi PopCornZiggybee,
In order to opt for such coverage, you'd need to be sure of your assets that you're listing for the coverage. If only the assets are so valuable to you that their loss might cause them considerable financial damage then only you may think of applying for such coverage. You'd probably need to show some of these details while you're applying for the coverage.
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fatman
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