24-03-2017

It's easy to assume that if there is a fire that you'll be covered by insurance, but there's no such thing as a specific fire damage insurance policy. Despite this, if you have the right insurance in place, you should be covered should damage be done.

What Types of Insurance Will Cover Fire Damage?

The answer to this isn't straight forward as it depends greatly on the cause of the fire and what it damages.

Generally, buildings insurance will cover the cost of any structural or cosmetic repairs to your premises required as a result of a fire. Your policy may also cover the cost of replacing fire safety equipment or repairing any damage caused by the fire brigade when tackling the blaze.

Contents insurance will help you to replace furniture or fittings, however, this will not cover any products stored on the premises or any expensive machinery - specific stock or machine insurance will be needed to reimburse the costs of these.

In addition, you may also want to consider business interruption insurance. This will cover the loss of earnings while your repair or replace items and get the business running as normal.

Read the Fine Print

Back in 2013, £270 million worth of domestic and commercial insurance claims were made as a result of fires. However, thousands of claims were also rejected.

It's always important to read any conditions of cover and to guarantee these standards are met. Any policy that covers fire damage may stimulate that smoke alarms are fitted, fire doors stay shut and fire extinguishers are checked regularly. Not meeting these conditions could result in the insurer rejecting your claim and you being out of pocket.

Things to Know When Making a Fire Damage Claim

• Before handing out any money, a forensic examination will be completed to find the source of the fire and to reveal whether it is a case of arson or an accident.
• To ensure everything that is fire damaged is replaced, complete a full inventory and take photographs of any special items. These will act as evidence for your claim.
• When repair work begins, prepare and present a schedule of works to your insurer with estimated costs or receipts where possible.
• Do not try and cut corners to get repairs done quickly as this may result in maintenance or repair work being needed sooner than expected.

Insure Yourself Against Fire Damage with Our Help

Whether your require commercial building insurance, stock cover, business interruption protection, or all three, we're here to help you get the correct cover at a reasonable price. No one can predict when a fire will break out, but you can ensure you're covered if it does by comparing policies online with us.

Learn more about business insurance and get a quote online today!