Installing a wood or pellet stove most likely will influence your homeowners insurance because in accordance with the National Fire Protection Association, supplemental heating equipment is the leading cause of home fires in winter and the second leading cause during other months of this year. Insurance agencies don’t differentiate between wood and pellet stoves when it comes to inspections, coverage and rates. Both types of cookers are considered supplemental heat sources and are added to the coverage in the exact same method.
Kinds of Stoves
A wood stove is a heating appliance made from solid metal, like steel or cast iron, with a closed fire room where firewood is burnt. It usually is set on a brick foundation. A pellet stove is similar in construction but burns compressed biomass pellets, which can be wood particles made from sawdust and wood pieces. Pellet stoves burn cleaner than wood stoves, but they won’t work without power. Wood stoves do not rely on electricity to function.
Impact on Insurance
Homeowners must contact their insurance company before installing a wood or pellet stove to find out what impact the heating apparatus will have on the coverage. Because the danger of a house fire is greater with these cookers, specific insurance companies may charge a higher premium. In case a fire breaks out and the insurance company wasn’t aware of the supplemental heating device, insurers might refuse to cover the claim.
Insurance companies need specific information from homeowners trying to install wood or pellet stoves. Generally, insurers need an inspection of the stove to test for proper installation, in addition to documentation showing a certified professional did the work. If the wood or pellet stove is already in place during the time of this home purchase, the insurance company may demand a formal inspection to make sure that the stove is left up to code and working properly.
In order for the insurance company to approve a wood or pellet stove, homeowners must provide insurers with proof that the stove was installed in accordance with local fire codes. These codes are a list of rules that regulate a variety of stove installation specifications, like how close the stove can be into the wall, what kind of foundation the stove must rest on, and venting details. There are slight differences between the code requirements for wood and pellet stoves. As an instance, pellet stoves could be closer to the wall than wood stoves.