What does homeowners insurance pay for fire loss?

Answer by  Gus11 (7)

Every insurance policy has its own terms, deductibles, conditions and coverages. You need to read your policy and contact your insurance agent who handles the policy and understand its terms.

Answer by  tamarawilhite (17883)

Homeowner's insurance will cover either replacement value of the home (if you have replacement value insurance) or a flat amount based on the home's prior appraised value (even if it will cost more than that to build a new home). They may pay a flat amount or as work is completed.

Answer by  Rubberchicken (819)

Most homeowners policies will provide coverage for the dwelling, contents, and detached buildings or improvements. Check your policy to see if it provides replacement cost or AVC valuation.