Fire Insurance Claim Calculation Infographic
Calculating the full cost of a fire insurance claim is challenging. Let’s simplify it.
How Much Does Fire Restoration Cost?
Fire damage restoration costs vary widely. Although no two house fires are alike, our data reveals some of the average costs of fire damage restoration.
- National Average Cost: $78,000
- Average Range: $40,000 to $350,000
- Minimum Cost: $5,000
- Maximum Cost: $1,000,000+
Calculating Fire Restoration Cost by Type of Damage
Fires cause multiple types of damage. It’s easy to spot fire damage in your home. However, fires can also lead to smoke damage, soot damage, chemical damage, and water damage, among other types of damage.
- Smoke Damage: $3,000 to $35,550
- Burnt Material Removal: $2,500 to $4,000
- Soot Damage: $4,500 to $15,000
- Chemical Damage: $1,500 to $17,500
- Water Damage: $2,500 to $50,000
- Structural Damage: $17,000 to $250,000+
How Insurance Covers Fire Damage
All homeowners insurance policies cover fire damage. Here’s how it works:
- You pay your deductible, and your insurer covers all remaining costs of restoring your property and possessions to pre-loss condition.
- If your home has structural damage, or if the cost of damage exceeds 50% of the value of the home, then you may have the option to rebuild your home.
- Your insurance covers additional living expenses (ALE) you incur after the house fire. This can include hotels, restaurants, rental car costs, and other expenses. ALE can add thousands to your claim.
- Your insurer covers the cost of replacing all damaged possessions (like TVs and furniture). However, the insurer will push for the cheapest possible valuations to limit your claim.
- Your insurer covers damage up to the limits of your policy. If your policy has a limit of $200,000, then your insurer will pay a maximum of $200,000 for your claim. A serious house fire can quickly hit your limit.
How Public Adjusters Increase Claim Settlements
A good public adjuster can increase fire insurance claim payout by 200% to 300%, or more. Public adjusters use expert industry knowledge to push for the highest possible payout on your behalf.
Some of the ways public adjuster increase payout include:
- Manage your claim from beginning to end for the highest possible settlement
- Spot damages that others did not (or that your insurer ignored)
- Negotiate with your insurer for maximum coverage and higher payouts
- Provide a second opinion on restorations, repairs, and replacements
- Fight on your behalf to ensure you receive every penny owed to you
You paid for your insurance policy. However, insurers want to pay you as little for your claim as legally possible. Public adjusters fight back.
Schedule a Free Consultation
Schedule a free consultation with a ClaimsMate public adjuster today.
ClaimsMate’s public adjusters are licensed insurance industry professionals who specialize in fire damage restoration claims.
Solve your tricky house fire insurance claim and get the claim help you deserve!. It starts with a free, no-obligations consultation.