Wood-burning fireplaces and stoves represent an elevated risk to your house, which may result in higher insurance rates or difficulties acquiring coverage. The amount of any potential extra will be determined by the type and quality of fireplace in your property.
Do fireplaces make insurance go up?
In general, every element of your property that poses a danger of injury or damage will raise the cost of your homeowners insurance. A fireplace, for example, may not have the same impact on insurance prices as other facilities, such as a pool. However, insuring a home with a wood-burning fireplace may be more expensive than insuring one without.
How much longer will it take? It is dependent on the insurance company. In some circumstances, you may only see a 2% rise in your premium, while other insurers may charge you more.
Provide confirmation that the unit was installed appropriately by a licensed professional and fulfills code standards to avoid a potential fee increase. Installing smoke detectors on each level of your home and storing at least one fire extinguisher in a central area will also help lower your insurance price.
If you want to install a fireplace in a home that does not already have one, make sure to contact your insurance company. Also, if you’re buying a house with an existing fireplace, inquire about the installation’s details or documents.
Do gas fireplaces increase insurance?
Maintaining your fireplace and having it evaluated to ensure it is physically sound will help to reduce the chances of fireplace-related hazards. Here are a few things to remember to keep your home safe and your fireplace in good working order:
Some fireplaces are safer than others
Wood-burning stoves are thought to be the cause of nearly 4,000 fires in the United States each year, according to the US Fire Administration. According to the US Consumer Product Safety Commission, wood-burning stoves are also responsible for 150 deaths each year due to carbon monoxide poisoning. Gas-burning fireplaces are safer for your house and health than wood-burning fireplaces, and they usually cost less to insure. Electric fireplaces, on the other hand, which are essentially fireplaces without the fire, may have no effect on your home insurance rates.
You should clean your fireplace at least once a year
The US Fire Administration also suggests that you have your fireplace inspected and cleaned once a year by a registered technician. A fireplace or chimney in need of repair can cause a variety of problems, including:
Cracks in your chimney that could allow birds or rodents to enter and build a nest
Creosote, or unburned fuel, can accumulate and create health problems such as eye irritation and seizures, as well as causing your chimney to catch fire.
Chimney swifts, small cigar-shaped birds that dwell in smoky areas, may leave droppings in your chimney that can cause lung infections if breathed.
A well-maintained chimney reduces your chances of developing these health problems and makes it easier to pass your home insurance examination. It may be more difficult to pass your inspection and receive homeowners insurance if your fireplace is in bad condition.
Does having a fireplace increase the value of a home?
According to the National Association of Real Estate Appraisers, adding a fireplace to a home can boost its resale value by 6-12 percent.
Does adding a wood stove increase home insurance?
If you have a wood-burning or pellet stove, your insurance premiums will almost certainly rise, although the increase will be minor. It’s likely that your insurance will classify your wood stove as a space heater or other type of heating appliance. If this is the case, a wood stove may not raise your insurance rates.
Is gas or electric heat cheaper to insure?
In general, you will receive a discount on electricity or natural gas when it comes to home insurance. There will be an additional charge for the oil. Many house insurance companies will flatly refuse to cover you if you use wood as your major source of heat.
How much does a fireplace insert cost?
Depending on the state of your existing chimney and the model you choose, most fireplace inserts and expert installation cost between $2,000 and $4,000. Electric fireplace inserts are less expensive than wood and gas fireplace inserts, however they produce less heat.
Do electric fireplace inserts produce heat?
Yes. While electric fireplace inserts don’t provide as much heat as gas or wood-burning inserts, they can still heat up to 400 square feet.
How do I know if my fireplace is zero clearance?
The presence of black metal, either exposed on the face or inside the firebox, is the most evident method to identify a zero clearance fireplace (Fig. #6). Some fireplace manufacturers are doing a better job of concealing the metal and creating masonry-like fireplaces (Fig. #7). Prefabricated fireplaces usually always have cast refractory material imitation brick panels lining the inside of the fireplace (Fig. #8). They’ll also have a spherical metal damper and flue (Fig. #9) that you can see if you look up into the fireplace. The flue is normally 8″ to 10″ in diameter, but it can be larger in exceptional cases. The outside chimney (or chase) is usually coated in stucco or siding (Fig. #10), but brick or stone veneer can also be used. A metal cap will also be present, which may or may not be covered by a shroud (Fig. #10).
What is masonry fireplace?
Masonry fireplaces and chimneys are built on-site from stone or brick and mortar and are part of the structural design of the home. These fireplaces and chimneys are usually erected at the same time as the house.
Can I have a wood stove in my garage?
Wood stoves must be put on a fireproof surface, which is best suited to a concrete garage slab. To add an attractive detail or more definition to the wood stove installation, a single layer of bricks, concrete pavers, or ceramic tile can be added.
Does a fireplace add value to a home 2021?
It’s finally time to tackle that home improvement project! Is a fireplace going to increase the value of your home? According to the National Association of Realtors, a fireplace can increase the value of your property by up to $12,000.