November 2021


Will My Homeowners Insurance Cover Any Fire Damage?

Fire damage makes up a huge portion of homeowners insurance claims every year. Having a fire disaster is bad enough on its own, not to mention not having the right coverage for it. As a homeowner, you may wonder if your homeowners insurance will cover any fire damage. First, you need to understand the different types of coverage available, what they cover, and which one you should buy.

A standard homeowners insurance policy offers five different kinds of coverage, namely:

  • Home structure coverage
  • Personal property coverage
  • Medical expenses, if someone gets injured at your home
  • Liability coverage
  • Additional living expense

Types of Homeowners Insurance Policy & What They Cover

HO-1 policy

The HO-1 policy is the most basic type of homeowners policy, and it offers limited coverage. It covers your home and belongings at actual cash value against named perils, such as

  • lightning
  • fire
  • windstorm
  • hailstorm
  • explosion
  • riot or war
  • aircraft damage
  • vandalism or theft
  • falling objects

HO-2 policy

The HO-2 policy is also known as the broad form policy because of the additional perils covered by it.  It covers the home structure at replacement cost and the personal belongings at actual cash value. A few additional perils covered by it include:

  • weight of snow or ice
  • volcanic eruption
  • freezing
  • accidental damage from electric current

HO-3 policy

The HO-3 policy is also known as the special form policy. It is the most common policy among policyholders. It covers all risks for the home and property and is therefore known as open coverage. It protects against the risks specified in both HO-1 and HO-2 policies unless otherwise stated. Some commonly excluded perils are government actions and intentional damage.

Ho-4 policy

This is a content broad form or a renters insurance policy. It only covers the policyholder’s belongings, additional living expense, and liability.

HO-5 policy

The HO-5 policy is the comprehensive form. It provides coverage for both belongings and home structure at replacement cost. It also provides open risk coverage but at a very high price. It is suitable for expensive structures and belongings.

HO-8 policy

It is a modified policy for homes that do not meet the conventional requirement for insurance. It covers old houses with outdated structures that are almost falling apart. It provides coverage from named perils at actual cash value.

Thus, most homeowners insurance policies will provide coverage from fire damage, but not all fire incidences will be covered. Some policies may cover damage resulting from arson, accidental fire, explosion, and lightning. However, they may not cover fire damage due to war or intentional acts.

As a homeowner, you need the right home insurance policy with adequate coverage to ensure your home is entirely covered in case of an unfortunate event. At Abatelli Insurance, we have a wide range of homeowners policies that will surely cater to your needs. Contact us today to learn more.


Some Interesting Facts That You Should Know about Thanksgiving Day

Thanksgiving is one of the national holidays observed in the U.S., where families and friends sit around the table to celebrate blessings and events that they are grateful for. The traditional holiday is believed to have started during the American civil war in 1863 when President Abraham Lincoln declared the 26th of November as Thanksgiving Day. However, interestingly, Thanksgiving did not start originally in 1863.

How Did It All Start?

The first Thanksgiving was held in the Plymouth colony in November 1621 to mark the success of the Pilgrims’ first corn harvest. The occasion was celebrated for three days by each state and colony, until 1863 when a unique day was chosen for it. Thanksgiving Day became a national holiday in 1941.

Interesting Facts about Thanksgiving Day

  1. Each year a turkey is pardoned

    Every Thanksgiving Day, the President is presented with a ceremonial turkey from the National Turkey Foundation. Each year, the ceremonial turkey has been pardoned, except for the one presented to President Harry Truman. He pardoned the turkey but ended up eating it for dinner.

  2. The first Thanksgiving parade featured real animals

    Thanksgiving parade or Macy’s parade was first held in 1924 to kickstart the Christmas holiday. It was known back then as Macy’s Christmas parade. It featured real animals from the central park instead of balloon characters.

  3. The writer of “Mary had a little lamb” is the mother of Thanksgiving

    Sarah Joseph Hale, the author of “Mary had a little lamb,” is known as the mother of Thanksgiving, thanks to the relentless letters she wrote to the then U.S. President Abraham Lincoln in 1863, persuading him to declare Thanksgiving Day as a national holiday.

  4. Americans consume more calories on Thanksgiving Day

    According to statistics, Americans eat about 45 million turkeys every Thanksgiving. Each turkey contains 300-4600 calories more than the daily intake.

  5. Watching football on Thanksgiving is a tradition too

    Watching football on Thanksgiving is another tradition that has been adopted over the years, just like eating turkey. It started from the match between Yale and Princeton held on 1876 Thanksgiving. Since then, it has become a tradition.

  6. Thanksgiving is the peak day for fire accidents

    Thanksgiving Day has the highest number of residential fires, according to the National Fire Protection Association. With the festival in full mode, it is easy to get distracted and leave food unattended. Therefore not only is the turkey at risk of getting burnt but so is your house and belongings. To prevent accidental fires, make sure to take the necessary safety measures such as keeping a fire extinguisher handy, ensuring that the stove or oven is never left unattended, setting timers to remind yourself of the food being cooked, etc.

These are some fun facts about Thanksgiving Day that you should be aware of. Our team at Abatelli Insurance wishes you a very Happy Thanksgiving! Stay safe and have a great holiday!

COVID-19 Update

We are no longer working remotely. You can reach us at (718) 352-6000 Letter to Policyholders