|It’s a time for celebration and remembrance; a time to be surrounded by loved ones, eat well, and rejoice. But holidays are also frequently the days when disasters strike.
The National Fire Protection Association (NFPA) reports that Thanksgiving is a peak day for home cooking fires, and US fire departments respond to over 800 home fires per year that are started by holiday decorations.
On top of these dangers, insurance companies report that burglary rates jump by 6 percent during the holidays.
To protect yourself, your family, and your home this holiday season, make sure you have the proper insurance policies in place to recover from these common disasters. Following are two of the top holiday incidents that homeowners insurance will cover.
Burning More than Dinner
Whether it was chestnuts roasting on an open fire or a stove-top disaster in the kitchen, your holiday fire is covered. NFPA reports that $12 million in property damage is caused by Christmas tree fires each year, and another $11 million in damage is caused by other holiday decorations. Insurance companies report the median cost for fireplace-related fires is over $10,000.
If you suffer from a household fire, it’s crucial to have insurance to pay for repairs. Typical homeowners insurance coverage will pay for interior damage as well as trees, plants, and shrubs in your yard damaged by fire.
A Visit from the Grinch
If someone helps themselves to what’s under the tree or stashed in the closet, your homeowners policy will cover the theft. Most policies provide coverage totaling up to 50 or 70 percent of the home coverage.
If you purchase a luxury item, keep in mind that there might be limits to your policy, so consult with your insurance agent to see if you need supplemental coverage.
I’m happy to review your policy with you and help you make any adjustments needed to ensure you and your family are fully protected this holiday season.