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JUL
10
2021

3 Benefits of Having Dwelling Fire Insurance

How to Know if You Need Dwelling Fire Insurance

Most people understand the importance of homeowners insurance if you own a house. Insurance is needed to protect you in the event of an unexpected disaster. If fire strikes your home, your homeowner policy will likely cover structural damages to the property as well as a majority of your possessions. 

However, there are many instances where homeowners find themselves in a situation where they may need supplemental insurance or their own dwelling fire insurance policy. The most popular reasons for this include: 

  • You own a secondary residence (vacation or seasonal home)
  • You own a rental property
  • Your home is vacant
  • Your home is in disrepair or can’t be insured otherwise

If any of these situations are applicable to you, you may want to look into whether a dwelling fire insurance policy is right for you.

Types of Dwelling Fire Insurance

To better understand if you should consider dwelling fire insurance, it is good to know about the three main types that are available to you. 

  • Basic Form – covers fire, lightning, and internal explosions
  • Broad Form – covers falling objects, burglary damage, broken glass, and electrical issues
  • Special Form – covers war attacks, earthquakes, neglect, and intentional loss

 

Benefits of Dwelling Fire Insurance

If you are considering exploring this type of insurance policy it is always good to talk to a professional about both homeowners policies and dwelling fire insurance policies that are right for you. Some absolute benefits from exploring this type of coverage include:

  1. Potential Money Savings: dwelling fire insurance protects certain properties without you having to float the expensive costs of a comprehensive homeowners policy. Renters can cover their own possessions with a renters insurance policy, so if you have a property that isn’t your primary residence or doesn’t house many possessions this can be a cost-saving mechanism. 
  2. Covering Secondary or Vacant Properties: Maybe you have multiple homes that you use or a vacation home that you use periodically. If you own property that you are not at a majority of your time it is likely that a fire dwelling insurance policy is a better option for you. This also applies to properties that are vacant or undergoing renovations and are empty for one reason or another. 
  3. Supplemental Coverage for Added Protection: Sometimes fire dwelling insurance is used in conjunction with a traditional homeowners policy as additional coverage for a particular home. 

Nickerson Insurance Can Get You a Quote Today

Dwelling fire insurance plans can be personalized to meet individual needs. Call Nickerson Insurance Services, Inc. to speak with a qualified insurance agent. Depending on your personal circumstances, we will help you find an insurance plan that best fits your needs and get you a quote today. 

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