Is it covered by my insurance company?
When it comes to complex situations, like arson and hiring a professional remediation company, each homeowner's insurance will have a different policy for your property in Lombard, IL. However, there are a few things that will be covered by most insurance policies.
Homeowner's insurance protects you from a wide range of damage to your property. This includes your home and other structures on your property. However, a separate business on your property will not be covered under most policies.
Remember that other structures are not limited to barns and sheds. It can include things like artwork, your driveway, or fencing. When shopping for your policy, it is wise to make sure any of these items will be covered.
- Personal Property
Policies will also replace your personal property that was ruined in a home fire. However, pay attention to whether your policy covers the replacement cost or what you would pay for the new items. If they don't mention this, they will likely offer you the cash value, which the item would have sold for. Some items lose their value very quickly, and getting the cash value would not allow you to replace them. In situations like this, you want to make sure that you have a policy covering the actual replacement cost. This ensures that you can replace your personal property.
Generally, you only think of your house and other structures as protected in the event of a home fire. However, your car may be covered as well. You will want to read your insurance policy carefully before assuming it does. At the very least, the personal property you have in your car will be protected in the event of a home fire.
It is important to know what your homeowner's insurance policy covers. While certain things like a purposefully set vacant home fire will be handled differently, there are certain things that all policies will cover.