Will Insurance Cover a House With a Fireplace?

Rates for homeowner's insurance are based on each insurer's risk estimate of your home, and fireplaces may increase your risk level. Despite the fact that some dangers, like floods and earthquakes, are normally not covered by private insurance companies, fireplaces are typically insured. You may be required to acquire additional coverage in addition to a standard policy.

Examining Your Coverage

Home insurance providers widely offer fireplace insurance, but it is typically not included in a normal policy. Therefore, you must inform your insurance agent that you have a fireplace to receive the most accurate quotation and effective coverage. To check whether your current insurance coverage covers losses caused by a fireplace, consult your policy paperwork or contact your insurance representative.

Adding Protection

If your current homeowner's insurance coverage does not cover damages caused by fireplaces, you may be responsible for covering all costs if your fireplace causes damage to your house. If you do not have fireplace coverage and your fireplace causes your living room to catch fire, your insurance company may not cover you for the cost of restoring your home. If you want to build a fireplace in your house or are acquiring a home with a fireplace, ask your insurance agent to add a fireplace endorsement to your current homeowner's policy or purchase a policy that includes coverage for fireplace damages. Even though this coverage is not included in a normal policy, most insurance providers offer it.

Increased Charges

When you add fireplace coverage to your policy, your premiums may increase because insurance companies view fireplaces as an extra hazard that raises the likelihood that they will have to pay claims. However, pricing varies among insurers, so comparison shopping could help you locate a more affordable policy that includes coverage for fireplaces. An insurance provider may reduce your premiums if an older fireplace or wood-burning stove passes an inspection based on current construction requirements, regardless of how long the stove was installed.

Fireplace Security

Insurance premiums and coverage may also be influenced by the number of claims filed. To limit the likelihood of incurring damages that necessitate filing a claim against your insurance, it can be crucial to ensure that you practice proper fireplace safety. For example, fireplaces with chimneys made of masonry are most secure when the screen is closed and the flue is open for ventilation. All chimneys are susceptible to accumulating creosote, a highly combustible residue that annual professional cleanings can eliminate. Some insurance providers even stipulate that skilled fireplace installation is a must for coverage.