To see if they need to increase their coverage, policyholders should annually check the value of their homes.
Keep in mind that you can only get insurance that covers the actual value of your home.
For expensive, rare, and irreplaceable items that are otherwise not covered by standard fire insurance, insurance companies may offer separate policies.
Fire insurance is covered by a lot of standard homeowners insurance policies, so it covers things like repairs to your house and even moving costs.
There are times when you might need more coverage. A homeowner may need to purchase separate fire insurance if their insurance policy does not cover fire damage.
Especially if the property contains valuable items that are not covered by standard coverage.
The insurance company’s liability is limited by the policy value, not by how much the property owner lost or damaged.
