A House Fire: No One Expects It to Happen

A house fire. No one ever expects it can happen to them.


Did you know, in 2019 Halifax Regional Fire and Emergency services responded to over 60 residential fires in HRM ?


As a homeowner, your house and what is inside it, are your most valuable possessions. A house fire is an absolute tragedy. No one should ever have to experience this type of loss.


The purpose of an insurance policy is to help you rebuild your life after a loss like a fire. That is where you see the value of the money you spend on your insurance policy.


The first thing you need to do now is make sure you have bought the right coverage and that it is up to date. If you have not reviewed your coverage in a few years, give us a call and we can help you. We have a calculator to estimate how much it costs to tear down and rebuild your house based on the size and type. This value is what is usually on your policy as the dwelling limit. Then your personal belongings have a limit of coverage that is generally 70-80% of that limit. You would also have coverage for loss of use. This is the extra cost to live at a hotel or other location until it is rebuilt.


We do recommend having a documented inventory of your things if possible.


A video walking tour of your house, or photos would save you a lot of time when you are trying to remember what you lost. The point of insurance is to put you back to where you were before a claim. We want to replace what you have lost with similar type and value. Most people who have acquired things over many years as gifts do not realize how much it costs to buy them all new!


Of course, you should do everything within your power to prevent a fire from happening! Next month I will talk about ways you can help prevent a house fire so be sure to check back with us in March!

house fire