If you’re shopping for insurance, you’re probably thinking about your own property. Most policies are—quite sensibly—purchased to make certain that individuals who have their homes or apartments destroyed in fires are able to recover financially. These policies also make certain that families aren’t left out in the cold if they lose their homes, one of the most terrifying consequences of such a devastating event. Fire liability insurance extends this type of protection to those around you. It’s not pure altruism, however, as you are at more risk than you may think if you have a house fire.
The most important thing in the event of a house fire is that there are no casualties. If that is the case, there will still be a lot to handle. Your home will likely be uninhabitable for a time. You’ll also find that your possessions, even those that don’t burn, will likely be destroyed. Fire liability insurance doesn’t help you replace any of this. It helps you to avoid what amounts to being attacked from your flank at one of the most vulnerable points you’re likely to face in your entire life.
Fires are events that can realistically take down an entire city block, or much more. There have been historical fires that have eliminated entire cities. Wildfires often burn thousands of acres, and are sometimes started by fires at individual houses. With all of this potential damage, fire liability insurance provides a way to mitigate your risk. If your fire takes out the neighbor’s garage, you’ll be covered for their damages. If this doesn’t seem that important to you, you may want to consider how much it would mean to your neighbor. Oftentimes, a fire that starts in a single-family home becomes a multi-family disaster.
Fire liability insurance is a good addition to your home coverage. If you’re a renter, this may already be part of your policy. Renters face the greatest hazard from these events. Not only do renters typically have less money on hand, they can also potentially destroy many apartments nearby their own through no fault of their own. Fault or not, your neighbors may expect—perhaps justly—that you reimburse them and your insurance will make sure that this doesn’t destroy your financially. For renters and homeowners alike, this insurance coverage is a very sensible and affordable movse to make.
Source by Ross Quade
