Dwelling Fire Insurance

What is Dwelling Fire Insurance

If you own multiple properties or have more than one house on your property, your homeowner’s insurance may not provide the coverage you need in the event of fire damage. Dwelling fire policies provide coverage for homes that you own but don’t live in for most of the year. This may include vacation homes, cottages, cabins, or investment homes like rentals. If your property falls under these conditions, fire dwelling insurance might be the coverage you need.

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Types of Dwelling Fire Insurance Coverages

Owner Occupied - If you have bad credit, a history of past claims, or property that is in a state of disrepair, it may be difficult to get homeowner’s insurance on your primary residence. Purchasing a fire dwelling policy will allow you to have coverage for your home in the event of a fire.

 

Secondary Residences - If you own a vacation home that you only visit a few weeks or months out of the year, you need a fire dwelling policy.

Investment Properties - If you own a secondary home that you rent out to others, then a fire dwelling policy is commonly used to cover this risk. Besides covering the cost to rebuild after fire damage, fire dwelling insurance provides relocation funds for tenants and provides you with loss of rental income coverage.

 

Vacant Homes - A home that’s up for sale or undergoing repairs can also benefit from a fire dwelling policy. Homes that are unoccupied are subject to electrical shorts, vandalism, and lightning strikes that could result in a fire.

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