Whenever there is a damage to your property by any source like water or fire, you suffer from loss. The damage is done to your property, furniture, appliances and draperies etc. So, in order to cover your losses, you need to have a good insurance policy.
There are many companies that could offer you different types of policies regarding your property and belongings. So, whenever there is a disaster, you need to act efficiently and quickly. You need to contact the best and nearest fire and water damage companies for restoration and ask for their help so that the damage can be minimized in time.
You also need to call your insurance agent and tell them about the situation and ask the important question that whether the situation is covered by your insurance policy or not. This is a tricky question as you already know that there is a wide variety in insurance policies.
Also, this depends upon the actual cause or source of that fire or water that destroyed your property. So, it is important that your insurance agent observes the damage himself before giving you any solid answers.
This all comes under your homeowner’s policy. Usually, policies cover water damage caused by an inside source such as a burst pipe but don’t cover water damage that is caused by an outside source like flooding of river water or rain water. Or damage due to mold or due to maintenance problems i.e. wear and tear of pipes in walls or roofs because of your negligence.
In areas where floods are a common occurrence, there is availability of extra policies for flood damage to your property, that you could buy.
The losses and destruction caused by fire are covered under your fire insurance. Usually an accidental fire is covered under your homeowner’s policy but sometimes, it may not be sufficient to cover all the amount of repair, reconstruction and replacement of the lost property. So, it would be useful if you buy a fire insurance other than the homeowner’s one.
This additional insurance would benefit you very much as it would cover the expenses of damage caused to your valuable belongings, not covered under the homeowner’s policy. It would also cover the expenses of living somewhere else because of the house rendering uninhabitable due to the fire.
You should make a list or record of the belongings and parts of property damaged by the fire and the assessment of the extent of damage it has caused. This policy would also include any further harm due to water or smoke, caused by the fire.
The sources of fire could be a natural disaster or lightening from outside the property or it could be due to an electricity issue like gas explosion or defective wiring. If the fire causes rupturing or spilling over of the pipes or the water tank, then it would also be covered by the policy. All this information would help you buying policies in case of fire or water damage.