Over the last decade, residents of Lakewood and the rest of the state of Colorado have followed the national trend of installing wood burning stoves in their homes. With the high cost of fuel, wood burning stoves can provide the heat you need on those cold winter days. Before you go out and buy one of these units to heat your home, it is wise to check with your home insurance company or ask an independent agent how such a decision will affect your insurance coverage.
Fire is one of the biggest hazards that insurance companies consider when assessing the risk associated with a home policy. Homes with fireplace or wood burning stoves can elevate that risk. While a properly installed stove is usually very safe, not all stoves are installed properly.
Many insurers will require homeowners to provide proof of certification that their wood burning stove was installed properly. Just like you would hire a professional to install a hot water heater, unless you have the expertise, you should have the company that sells you the appliance also install it. Insurers also want to be kept informed when you add a piece of equipment that could change the chances of suffering a loss.
When you inform your insurance company of your intentions and have your wood burning stove properly installed, you can avoid any unanticipated consequences. Most standard homeowner policies do cover damage from fire, but, an additional charge for the additional risk may be added when you have a fireplace or wood burning stove.
Ask your Lakewood Colorado independent agent how your premiums might be affected. Major damage from this type of heating source is unusual. The facts are that most claims are the result of burning embers catching a carpet or some curtains on fire. To be safe, try to place these stoves on a tiled floor and away from any items that might catch fire.