How much does a fireplace increase insurance?

Various factors determine whether a fireplace will increase your cost for insurance, including the type of fireplace. Built-in wood-burning fireplaces pose more of a risk than a gas fireplace and may cause an increase in your home insurance rate.

Do wood-burning stoves have different insurance requirements?

Insurance companies may require wood-burning stoves to be professionally installed and pass a safety check by an inspector. Additionally, wood-burning stoves are typically ineligible if they are the primary heat source in the home. A wood-burning stove will typically cause an increase in your cost for home insurance.

Tips for maintaining a fireplace and reducing the risk of fire

Whether you have a fireplace, wood-burning stove, or firepit, there are a few things you can do to reduce the risk of fire and other potential problems:

  • Hire a professional to inspect it at least once per year. A professional inspection will identify potential risks, such as cracks in the chimney and residue build-up. Chimneys typically need to be cleaned annually, but your inspection report should indicate whether any cleaning or repairs are needed.
  • Ensure that there's nothing flammable surrounding the immediate vicinity of the fireplace or unit. If you have hardwood floors, keep rugs away from fireplaces and wood-burning stoves. Also, make sure no drapes are hanging too close, as heat or a loose spark could start a fire. Securing a screen, glass, or similar cabinet door for a wood-burning fireplace may prevent sparks and ash from causing damage.
  • Use the right type of wood. Seasoned hardwood tends to be safer to burn than softer wood. Not only does hardwood burn longer, but it doesn't produce as much residue.

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