4 fire insurance myths extinguished
1. Fire insurance only provides coverage for fire.
2. Fire insurance equals to home insurance.
Not exactly. For some insurers, there are stark differences in the coverage provided: fire insurance provides coverage for structural damages, while home insurance offers a pay-out for damages to the contents of a home. It is important to be clear on the policy terms and coverage, or speak to an expert to understand what you’re signing up for.
3. Fire insurance only applies if there is a fire in your insured home.
4. Fire insurance has little importance.
Incorrect. For many families, emergency funds may not be readily available or enough to cover all the costs of an incident. These include repair costs of any damage to house structure, replacement costs of home contents, as well as expenses spent on alternative accommodation during the repair period. Investing in a fire insurance plan can prevent any home-related incident from becoming a huge financial burden.
Still unsure about the difference between home and fire insurance? If you have any questions, feel free to reach out to us here or find out more here.
