I have been asked several times over the last week whether the damage to the homes in Fort McMurray would be covered by home owner’s insurance. The question comes from the belief that natural disasters aren’t covered. Loss by Fire is covered in the most basic property insurance policies whether it was caused by human error such as faulty wiring or by natural causes such as the spreading of a forest fire. Depending on the type of policy and the limits of coverage purchased not only will coverage be provided for damage to destroyed buildings and contents but there will also most likely be money available for the additional costs of having to find somewhere else to live while homes and lives are being rebuilt.
We are receiving notice from all of our insurance companies that that they have dispatched special teams to the Fort McMurray area so that they can help people get back on their feet as quickly as possible. While there is nothing that will lessen the tragedy of this event and the task of restoring people’s lives to where they were prior to the fire will be a long and challenging one, this is exactly the type of thing that the home insurance policies purchased by the residents of Fort McMurray were designed to provide coverage for.
If you have questions about what your home insurance policy covers don’t hesitate to contact your Licensed Customer Service Broker at Colley Insurance.