No one expects to be affected by a fire. Whether you are thinking about your business or your home, it’s just not something that crosses your mind. Fire insurance is one of those policies or policy additions that people put off, because they think “A fire? That’ll never happen to me.” But it does.
With the uncharacteristically wet spring Colorado has had this year, many business and homeowners will put off getting coverage, but this is a mistake. Wet weather this year means that the naturally occurring wildfires that affect Colorado might not burn as much vegetation, leading to a buildup of fuel for next year. If the State experiences a dry rest of 2015 and 2016, we may see a surge in fires in the coming year. Meaning that NOW is the time to buy or update your fire insurance.
There are several terms and conditions that must be considered and understood when selecting a policy that provides the right amount of coverage for you or your business. Many kinds of fires, such as wildfires, fires caused by earthquakes, and acts of God may not be included in your existing policy. Make sure that your agent provides examples of fires that are covered and not covered by the policies that you are considering.
Even if you already have fire coverage, it is important to speak with your agent and review your policy. The Real Estate market has increased dramatically in Colorado, so the value of your home or business has likely increased. Your existing fire insurance policy probably has a coverage limit based on the value of your home or business when your policy was purchased. Meet with your agent, you may want to get a property valuation, so that in the case of a fire, you or your company will be properly compensated based on the real damage done to the property.
There are several ways to save money on a fire insurance policy. Installing fire preventative measures, such as fire alarms, sprinklers, and using flame retardant building materials may reduce your monthly or annual insurance payment. At Insurance Town and Country, we understand that any explanation of insurance is a lot of information to receive at one time. That is why we keep ourselves updated so that we can be the insurance experts that you need when you’re choosing a policy or making a claim. Contact us today with any questions that you have about your home or business insurance, we’re happy to clear up any confusion. If you are considering a new insurance plan or changing an existing policy, we can schedule a meeting to sit down, discuss your needs, and find a plan that works for you, your family, or your company. Call, email, or drop in and see us today!
Denver Office Castle Rock Office
1735 E. 17th Ave. #3 513 Wilcox St. #200
Denver, CO 80218 Castle Rock, CO 80104
Phone: 303–388-7216 Phone: 303–688-1251