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Did you know that if a fire starts in your home you may have as little as two minutes to escape? During a fire, early warning from a working smoke alarm plus a fire escape plan that has been practiced regularly can save lives. Learn what else to do to keep your loved ones safe!

Every year, house fires claim the lives of over 2,500 people and cause around $7 billion in damage.

When it comes to household fires, it’s better to be safe than sorry and a few seconds can make a big difference to help you and your family escape safely. These tips can help you create a house fire evacuation plan:

  • Find two ways out
  • Choose a meeting spot
  • Check smoke alarms
  • Respond quickly
  • Have a backup plan
  •  Share with everyone
  •  Practice regularly

What Happens After the Fire

 

Once everyone has safely made it out of your burning home, what happens next while you are standing on your front lawn watching the fire department attempting to save your burning house?

Please, call your insurance agent. Your agent will be there for you to help you navigate the claims process with your homeowners’ insurance company. They will answer any questions about your coverages, and help you determine if you just need to stay in a hotel for a short period of time or whether you need to find a home to rent while your home is being repaired. Saving all your expenses receipts is also very important and will help your claims adjuster when it comes to reimbursing you for any covered out of pocket expenses.

 

What’s Covered?

 

When you first purchased homeowner’s insurance your home was valued at a certain amount, this amount is the replacement value of your home. Now this policy has many details but what’s important to know is that the bank gets paid first. What’s left goes to you. This is what you use to rebuild your home or to buy something new. Some policies even include covering closing costs or an allowance for a monthly stipend to cover an increase in interest rate.

 

Personal property coverage is what will help you pay for a new couch, kitchen appliances, and shoes. So how does personal property coverage work? If your home is valued at $300,000 and you have 50% personal property coverage you’ll get $150,000 to replace everything. Your policy may also be broken out into replacement cost or cash value.

 

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