What is the maximum amount of coverage available under a fire insurance policy?

Fire insurance policies vary in coverage depending on the policy and the insurance company, but in Washington, the most common form of fire insurance covers up to $200,000 of the insured property in the event of a loss due to fire, lightning, smoke, explosion, or other causes. The insurer will pay for damages from those causes, as well as any resulting legal defense and liability costs. For larger commercial properties, a higher limit may be available, but typically not more than $500,000. For additional coverage, many insurers may add additional coverage options to the fire insurance policy, such as additional structures, liability, or lost business income. It is important to remember that each policy will have specific details, limitations, and exclusions. Therefore, it is best to speak with an insurance professional to determine the maximum coverage available to you. They can explain how the policy works and can help to ensure that you have the coverage you need in the event of a fire.

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What is the maximum amount of coverage available under a fire insurance policy?

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