What are the odds of your house burning down?
What are the odds of your house burning down?
In a year, if one in 10 fires results in a destroyed home, 0.03% of individual homes are destroyed by fire. The chances of a home being burned down would be approximately one in 3000.
How does fire insurance work?
Fire insurance is a legal contract between an insurance company and the policyholder which guarantees that any loss or damages caused to the policyholder’s property in a fire will be paid by the insurance company. Fire insurance provides coverage against incidents of accidental fire, lightning, explosion, etc.
Does homeowners insurance cover earthquake damage?
Your homeowners insurance typically protects your dwelling and other structures and contents from damages due to fire, smoke, lightning, hail, theft and other exposures as described in your policy. Earthquake damage, however, is typically excluded from homeowners insurance policies.
