Insurance Precautions For Home Heating This Winter

High heating bills are one of the biggest expenses during the winter season, and people often resort to supplemental heating sources such as space heaters or wood burners to keep warm without raising their electric bill. But these types of heating sources can pose fire hazards, as well as electrical shocks and carbon monoxide poisoning.

According to the National Fire Protection Association, two out of three house fires are caused by supplement heating devices. And according to the Consumer Product Safety Commission, space heaters cause over 25,00 house fire every year, resulting in over 300 fatalities. So if you use space heaters, make sure you understand what your home insurance policy says about such devices and if you are covered.

It is your responsibility as a homeowner to be mindful of what your policy does or does not cover so that you are prepared in an event of a catastrophe. A standard homeowners' policy includes three types of coverage:

- Liability coverage, which pays for bodily injury sustained by others on your property;

- Dwelling coverage, which pays for damages to your house;

- Personal property coverage, which pays for loss of belongings contained inside the house.

House fires are included in dwelling as well as personal property coverages. However, your coverage limits will determine exactly how much you are paid for a claim. If the fire was caused by a space heater and the damages are more than your policy's coverage limit, you will need to cover the rest of the costs yourself.

Heating systems may have a direct affect on your homeowners' policy cost. The type of heating equipment you use will typically influence your premiums. The greater the risk of a fire posed by your heating system, the higher your premiums could be. A central heating system, powered by electricity or natural gas, usually doesn't have much impact on your premiums because they have a lower risk of causing fires. However, an oil-based furnace, a wood stove or space heater are higher risks and could raise the cost of insuring your home.

If you decide to use supplement heating sources for your home, J.P. Perry recommends that you notify your insurance company. In addition, heaters should be installed by a professional who will adhere to fire safety codes, and the equipment installed needs to comply with all safety standards, has an Underwriters Laboratories (UL) or Intertek label and undergoes regular checks and inspections.

Your J.P. Perry agent will be glad to assist you with your homeowners' coverage if you are making any changes regarding your heating sources.