My property has fire safety systems. Is fire insurance still necessary?
Yes. Fire safety equipment helps reduce risk, but it cannot fully prevent accidents. Fire insurance provides financial protection against losses caused by fire-related incidents and the damage that follows. Fire insurance typically offers coverage for damage to the building and its contents caused by flames, heat, or explosions. It also protects against losses from smoke, soot, and water used during firefighting operations. In addition, certain policies may cover extra costs such as temporary relocation or emergency expenses after a major fire incident.