Protecting Your Home Against Wildfire

As issues with drought continue to plague southern California, concerns about wildfires have continued to increase amongst homeowners. It is important for homeowners to get peace of mind by having the appropriate insurance coverage to protect their home against the financial impact of a wildfire, and it is necessary for them to review their current coverage to make sure that they have enough replacement coverage in case this type of damaging event does occur. If you are living in San Diego, California, and have questions about what types of coverage your home has against wildfires and other natural disasters, Windfall Insurance Services Inc. can help. Read on to learn more about reviewing your insurance coverage for wildfire protection.

What Is Wildfire Insurance?

Most homeowners insurance policies do typically include wildfires with the type of fires that they cover, however, as wildfires become a more prominent occurrence, insurers in higher risk areas across the western states are increasing the price of insurance premiums. Policyholders will want to review their current policies and understand exactly what is covered and what is excluded in their protection policy in order to reduce loss in the event of a wildfire. Most insurance coverage will typically include damage from smoke and fire in your home and additional structures such as garages and sheds, personal property within the home, additional living expenses, and removal of debris.

How Much Coverage Do You Need?

Since each policy is different, you will need to determine what type of coverage you have and the current limits that your policy has. You will want to check to make sure that you are not underinsured, especially if you live in an area that is prone to wildfires, so that if your home is destroyed, you are able to receive enough money to rebuild it. It is important to note that it is the policyholder’s responsibility to make sure that there is enough insurance coverage because the agency will not do that automatically. Insurance coverage that helps you rebuild a structure at current rebuilding prices is referred to as replacement cost value. To make sure you are fully covered, talk to a local contractor or realtor to see what the current price to build a home in your area is per square foot and then multiply that by your current home’s square footage to get an estimate. Some areas have policies that offer guaranteed replacement costs, however they do typically come at a higher cost.

Get Help Understanding Your Home Insurance Coverage

Insurance coverage offers protection for your most valuable asset, and gives you the peace of mind that your home is protected. If you are interested in learning more about what your homeowners insurance policy covers in San Diego, California, contact Windfall Insurance, Inc. today for a consultation.