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 | Southern California Wildfires Ignite Need for Greater Mitigation Efforts and Adequate Insurance Coverage Nationwide, According to I.I.I. Make Your Home More Fire-Resistant, Says Institute for Business & Home Safety
INSURANCE INFORMATION INSTITUTE
Contact: Press Offices
New York: 212-346-5500; media@iii.org
Washington, D.C.: 202-833-1580
NEW YORK, October 23, 2007 — More than half of California's 12.5 million homes face wildfire dangers that pose a financial loss potential well in excess of $100 billion. These dangers are illustrated in the dozen or so major wildfires currently burning in California. But it is not just California that is susceptible to wildfires. These fierce blazes are prevalent in many parts of the country and are often caused by lightning, human carelessness, arson, heat waves and droughts. Homeowners need to be aware of the steps they should take to prevent wildfire and the insurance implications before moving into or building residences in high-risk areas, according to the Insurance Information Institute (I.I.I.).
It is also important for homeowners to do all they can to protect their property, including having adequate insurance coverage. Your policy needs to cover the cost of rebuilding your home at current construction costs. Unfortunately, some homeowners simply purchase enough insurance protection to satisfy their mortgage lender. Others confuse the real-estate value of their home with what it would cost to rebuild it. Quite simply, you should have enough insurance to rebuild your home in the event that it is completely destroyed. Be sure to consider the following:
- Replacement Cost
Most policies cover replacement cost for damage to the structure. A replacement cost policy pays for the repair or replacement of damaged property with materials of similar kind and quality.
- Extended Replacement Cost
Provides additional insurance coverage of 20 percent or more over the limits in your policy, which can be critical if there is a widespread disaster that pushes up the cost of building materials and labor.
- Inflation Guard
This coverage automatically adjusts the rebuilding costs of your home to reflect changes in construction costs. Find out if your policy includes this coverage or if you have to purchase it separately.
- Building Code Upgrades
If your home is badly damaged, you may be required to rebuild it to meet new (and sometimes stricter) building codes. Many insurers offer ordinance or law coverage that pays a specific amount toward these costs.
Best Defense Against Wildfires is a Fire-Resistant Home
In addition to having the right coverage, making your home more fire-resistant is the best defense, notes the Institute for Business & Home Safety (IBHS). The key is to remove everything fire can use as a fuel source. This will help create a zone around the home to help slow flames, should a fire start, and potentially direct it elsewhere. The IBHS recommends taking the following 10 steps within 30 feet of most houses, 50-100 feet if it is a heavily wooded area (100 feet if it is in California):
- Space trees at least 10 feet apart.
- Prune trees and shrubs.
- Trim taller trees so the lowest branch is no less than six feet from the ground.
- Remove dead or dying trees and shrubs.
- Clear branches from around the roof and chimney.
- Mow lawn regularly and dispose promptly of cuttings and debris.
- Clear roof, gutters and eaves of debris.
- Maintain your irrigation system.
- Move firewood and storage tanks 50 feet away from the home.
- Store flammable liquids properly.
Homeowners about to begin a landscaping project can increase their protection by introducing fire-resistant plants, according to IBHS.
And if a facelift is being planned for the exterior of a home, the organization recommends using only non-combustible materials on the roof, walls, eaves, soffits and fascia.
For general information on wildfires, visit the I.I.I. Web site at: http://www.iii.org . For specific information related to the California wildfires, please contact the Insurance Information Network of California at 213-624-4462, 800-397-1679 or visit their Web site at: http://www.iinc.org/ .
IBHS provides other wildfire protection tips at http://www.disastersafety.org .
The I.I.I. is a nonprofit, communications organization supported by the insurance industry. |
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