California Fires Place Focus on Property Insurance
California Fires Place Focus on Property Insurance
Under a State of Emergency, Southern California residents wait in a shroud of smoke, and anguish over the unknown – how much damage will this latest series of wildfires inflict on property owners?
According to the Insurance Journal, the insurance industry is rallying in anticipation of a vast number of claims”
as homes and business are evacuated in the wake of these as yet uncontrolled fires. Their best advice, “Find out what you are covered for.”
That same advice is good for those not affected by these catastrophic losses. With the advantage of time, you can use this opportunity to review your property insurance policies and decide if the coverage is adequate to protect your investments.
The Insurance Information Institute reports that damage caused by fire and smoke is covered under standard homeowners, renters and business insurance policies and under the comprehensive portion of an auto insurance policy. There is also coverage for water or other damage incurred by fire fighters in the course of extinguishing the fire, according to the I.I.I.
Want more information on property and renter’s insurance? Check out our Insurance page.
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Coming soon … our interview with David Rush of Kistler Insurance. Find out how renter’s insurance can not only cover catastrophes, but it can be a profit center for apartment owners.
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