Multi-risk home insurance (MRH) contracts offered by insurance companies have a full fire guarantee. This guarantee allows policyholders to be covered in the event of fire, explosion, overheating, lightning, etc. Compensation is made following a careful analysis of the conditions in which the fire took place and the damaged furniture. Learn all about how fire insurance companies work.
Checking the clauses of your fire insurance contract
When you take out a comprehensive home insurance policy, and you are the victim of a fire, you must inform your insurer within the required timeframe. This period is generally set at 5 days but may vary between insurance companies and contracts. In addition, you must provide certain information and supporting documents to insurers when declaring the fire of which you are the victim.
As soon as the insurance company is informed of the loss of which you are the victim, it activates its compensation system in order to provide you with financial/material assistance. To do this, insurance companies start by examining the terms of the fire insurance contract to which you have taken out. This is the foundation on which they rely to insure their subscribers. Indeed, a fire guarantee has a wide range of fire coverages:
- damage caused by lightning or electricity,
- damage caused by an explosion,
- damage caused by emergency responders when the fire was extinguished.
In addition to these classic fire coverages, there are specific coverages offered by insurance companies. Depending on the type of contract taken out, you will benefit from the protection of your valuable and valuable goods/objects.
These are jewelry, paintings, cameras, musical instruments, etc. This coverage is available at a specific cost (often very high). Usually, insurance companies do not take into account valuables and valuables so as not to pay excessively high claims. Thus, careful analysis of the fire insurance contract is essential in the compensation process.
Audit and verification of the information provided
If you have taken out HRM insurance, you will logically benefit from coverage from your insurer if your premises catch fire. However, before any compensation is paid, the insurance companies carry out a thorough analysis (verification of information) of the factors which are at the origin of the fire and the damage caused.
This analysis allows insurance companies to know whether they should compensate you. To do this, insurers call on an expert who inspects the burnt-down accommodation. The inspection is carried out in the presence of the owner who provides information that can help the expert in his mission. After the results of the audit, if the owner is responsible for the fire, he will not be compensated. Otherwise, he will receive compensation at new or reconstruction value (which considers the dilapidation of damaged goods). To this end, there are warranty exclusions that may prevent an insured from receiving his compensation. It is :
- the installation of smoke detectors in the premises of the insured,
- pipe sweeping (approximately twice / year),
- brush clearing around the owner’s home for a distance of 50 m – 200 m (depending on the extent of the fire risk).
Compliance with these measures allows policyholders to benefit from their indemnities in the event of a fire in their house.