Colorado Fires and Oklahoma Homeowner’s Insurance

Right now, many of our fellow Americans are struggling with something we all dread. Their home being destroyed and there isn’t a thing they can do to stop it. Right now, in Colorado the fires rage on and on consuming everything in its path and leaving nothing behind but ashes. All those families are now without homes and many of their possessions.  How scary would it be to wake up one morning and you’re told to pack an emergency kit. You have to go through your house and pick what you would take with you and what you would leave behind. It’s just stuff but it all means something to you. How can you choose just a few items? If you were in this situation, what would you do?

Thankfully, many of us can say we have an Oklahoma Homeowner’s policy. The standard home policy automatically covers fire. If you were in the situation on our Colorado neighbors, your homeowner’s policy would cover the damages, minus your deductible of course. All your possessions in your home would be covered as well. Now keep in mind, there are exceptions and rules to certain items in your house like jewelry, fine art, guns, cash, and furs. These items if you have them in excess or quite a bit of high valued items, it is highly recommended that you speak with your insurance agent about “scheduling your property.”

What is “scheduling your property?” All that means is if you have more than $1500 to $2500 in value of any of these items, unless you list them specifically on your policy, chances are the insurance will not pay you what they are worth in some cases. Rather, the company will lump all of the items together, and give you a very miniscule amount for all of them.  Example, my husband has ten rare old guns in a glass case in his office at our home. We never really mention it to our agent, other than yes we have some guns in our house. If these guns are not listed out on our homeowner’s insurance policy and someone breaks into our home and steals them, the insurance will only pay us $1500 for all ten guns. However, if our home is destroyed by a fire, the guns would be covered for full value with documentation proving their worth.  In order to make sure you have the best coverage, it is always best to schedule your property on your Homeowner’s policy. Sorry, a little side note.

If your home was totally destroyed, how would you remember what you had and owned? I recommend using a video camera and filming everything you own. You can also take photos as well. Once you have finished this major project, keep the photos or video in a safe place not located inside your home. This way, should you lose your home, you have an easy way to remember what you owned and the adjustor can see everything as well. As stressful of a time as it would be to lose everything you owned, it would be so nice to already have a way to show what you owned instead of having to sit down and remember it all and make a list when you’re not in your right state of mind.

Let’s remember to keep the people living in Colorado in our thoughts and prayers. I personally have most of my relatives living in that area. I know they would appreciate your prayers.

So if you lost everything in a fire, would you have an Oklahoma Homeowner’s policy in place to cover what you lost? Just something to think about…

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