If your home is seriously damaged after a fire, you have two choices—buy a new home and let someone else fix yours, or restore and rebuild. If you decide to rebuild your home from the ground up, your homeowners insurance will cover the cost, up to policy limits for reconstruction value. If you only have areas that are destroyed, your insurance will work with a restoration team to bring your home back to safe conditionals (and full monetary value.)
Either way, your insurance policy is designed to protect you and ease the devastating financial loss.
No one can think straight with the trauma of a house fire. But if your house burns down or is seriously damaged, three of the first things you should do:
After you file a claim with your homeowners insurance company, an adjuster will visit your home in-person to assess the damage and determine how much money you’re eligible to receive based on the type of policy you have. It’s important to have adequate dwelling coverage. The amount of dwelling coverage you have is directly correlated to the reconstruction value of your home; the higher your coverage, the more money you’ll have to rebuild your home.
However, it’s important to know that the reconstruction value of your home may differ from the actual cost to fully rebuild your home. That’s because rebuilding can be very expensive when you account for things like labor and temporary living costs.
When your home had a serious fire, there are usually main damages and secondary damages. For instance, water from firefighters can flood the bottom floor of your home. On top of that, the flood damage could cause mold or rust. Additional damages will be constantly addressed by the restoration team.
The short answer is that yes, you can. However, the amount you get from the insurance company depends on what type of policy you have. There are some policies out there that have the option to cash out, but you will want to verify that by checking with your agent or insurance company. Do you have…?
Your insurance agent will work with you (and the restoration team) to access your available coverage to save your home, if you decide to stay. Restore More has years of experience coordinating with all the major carriers and can help organize files, provide documentation, and smooth communication during the process.
Count on us to restore your home after a fire– small and contained or a major loss. More than just qualified, certified and customer-centric, RestoreMore is your business neighbor and community partner. Contact us for quality fire damage cleanup services. More than just qualified, certified and customer-centric, RestoreMore is your business neighbor and community partner.