June 21, 2006
Wildfire - insurance, information and tips
The Arizona wildfire recently displaced a lot of people and panic spread among homeowners living in wildfire zones everywhere. News reports said that the late-afternoon wildfire on the western edge of Flagstaff forced mass evacuations of two private campgrounds and hundreds of homes. The Woody Fire, apparently sparked by humans, started about 4 p.m. near Route 66 and Interstate 40, about two miles from downtown Flagstaff.
It is when an incident like a wildfire occurs that homeowners think about their insurance for their homes and yes this is a good time to review your homeowners policy. Insurance experts will tell you that the single most important factor when it comes to insuring your home is to make sure your homeowners policy insures the replacement cost of the home and not actual cash value.
Replacement costs will cover the rebuilding or repairing cost of the home and your possessions without a deduction for depreciation and this is often overlooked. Check if your policy is on the replacement cost of your home and if not talk to your insurance agent or find a new insurance provider. Did you know that most homeowners don’t realize that their home is worth much more than the cost price of the home? It is realized when it is too late like after a wildfire devours your home.
Ensure that a 30 foot radius of vegetation free area is around the house. If there is a wildfire, this is where the firefighters will be while trying to save your home from a fire. Vegetation near the house can also be a fire hazard in wildfire zones and the general rule is: If wildfire risk is low to moderate a minimum of 30 feet of space must be established around your home and if your wildfire risk is high or extreme, surrounding space should be 100 feet and the use of more fire resistive building materials should be considered. Have you checked this yet?
--
Did you enjoy this post?
