As we discussed in previous articles, fire legal liability coverage is important for businesses. This coverage ensures that you are not responsible for paying damages caused by fire out of pocket – instead, your rental property and any equipment is covered.

A fire can cause major damage to your property in a matter of minutes. Taking a few extra steps to ensure that you have proper fire coverage in your policy can save you from taking a major hit to your finances.

What is Covered Under Fire Liability Insurance?

insuranceTypically, this insurance will cover damages and losses caused by fire. Proper fire coverage can help repair, replace, and restore your property after experiencing a loss. When you purchase your insurance, an amount will have been set with the insurance firm regarding the dollar amount of coverage you opted to take.

Fire liability insurance is usually limited only to fire losses to rented or leased property occupied by the tenant. Any physical damage done to a person or emotional and health issues are not ensured.

What to Look for In a Policy

In some cases, business owners will have liability insurance, however, this does not cover fires. Unless you specially work with insurance companies and make sure it is spelled out specifically that fire damage is covered, fire related damage is not typically part of a general policy.

Before signing into any contracts regarding lease or rental agreements, look closely at fire liability coverage. If you do not see this in your policy, chances are, you are liable if fire breaks out on the property.

It is at this point that supplemental insurance should be looked into.

Review Your Policy Frequently

Periodically review your fire liability coverage to verify that it hasn’t lapsed. Without this coverage, you run the risk of being held responsible for any fire damage that occurs on your property.

During your review, take into consideration if the value of your property has changed. Once you know the amount of your assets, you can determine the amount of insurance needed to cover your property. Make sure that you consider costs of all valuables – the worst that can happen is you aren’t insured for enough coverage and end up paying out of pocket!

Alpha Omega to the Rescue

Contact Alpha Omega Disaster Restoration today 406-628-0178 for emergency property damage cleanup and restoration services by Alpha Omega Disaster Restoration of Billings and Laurel, MontanaIn Billings, fire damage can occur anytime. At Alpha Omega Disaster Restoration, we have a team dedicated to fire restoration that’s available 24/7 for emergency services. Call us today for more information!