This will be a total loss
I’m lucky this never happened to me. We did have two scares from our son when he was 12 to 14 years old and he burned a patch of the rug upstairs in their gameroom area and he couldn’t successfully hide it. Then there was the time we came home from shopping and we see the fire truck in front of our house. Turns out he decided to start a small fire with leaves back by the fence and ‘Lo and Behold, the fence caught on fire! Fortunately somebody called the fire department or our house would have looked like the one in the picture above and our son would still be licking his wounds…He was 16 this time and fortunately he didn’t attempt anymore fires after that one! He doesn’t have any of his own yet, but I better remind him when they reach that “firebug” age. Lea Ann’s point below about adequate insurance is a good one.
The time to consider whether you have adequate insurance protection for your home and personal property is BEFORE you have a loss. Over time, your home may become under-insured because of home improvements, such as granite countertops or hardwood floors, or because of the rising costs for building materials and labor. A periodic review of your coverage can help make sure that you’re properly covered.
Your personal property may also become underinsured over time. Homeowners policies typically provide 60% to 75% of your dwelling limit for personal property (e.g. if your home is insured for $200,000, you probably have $120,000 to $150,000 personal property coverage automatically). That may be enough coverage, but it’s up to you to notify your insurance company if you need more.
You can help ensure that you receive a fair settlement for your claim by maintaining pictures of your belongings and, where appropriate, record serial numbers or obtain appraisals. An easy way to document most of your personal property is by taking pictures within each room of your house. And remember to store your documentation away from the premises.
Have you compared insurance rates lately? Lea Ann Leslie can provide free, no-obligation insurance quotes through many of the top insurance companies in Texas, including Safeco, MetLife, The Hartford, Chubb, Zurich, Foremost, Kemper, Travelers, and Progressive. She may be able to provide better coverage while saving you hundreds of dollars per year.
Lea Ann’s office is conveniently located just down the hall from mine; I’m confident that she will provide friendly, professional service for your home, auto, and other insurance needs. Please feel free to contact Lea Ann at (972) 355-1070 or LLeslie@twfg.net .