Fire Insurance

About Fire Insurance

Fire insurance as a modern industry traces back to London's Great Fire of 1666, after which physician-turned-entrepreneur Nicholas Barbon founded the Fire Office in 1681 to sell reconstruction coverage for brick properties and mark protected buildings with tin badges.¹

The concept reached America in 1752 when Benjamin Franklin co-founded the Philadelphia Contributionship, a mutual insurer that inspected chimneys, refused careless risks, and reimbursed members after urban fires, setting the template for today's underwriting surveys.²

Fast-forward to 2024: NFPA reports 1.5 million U.S. fires caused $18 billion in direct property damage, while Verisk's Q2 2025 reconstruction index shows replacement costs up 6.2% year over year, so Rockland County businesses need limits that reflect today's labor and materials rather than the last renewal cycle.^3,4

Coverage Highlights

Pulling from our internal glossary, these provisions keep one fire from cascading into a total business failure.

• Building & Ordinance or Law: Rebuilds damaged structures and pays for mandatory code upgrades, think sprinklers, seismic tie-ins, or ADA lifts, so compliance isn't an uncovered surprise.
• Business Personal Property & Stock: Replaces machinery, tenant improvements, merchandise, and technicians' tools damaged by fire, smoke, or suppression water.
• Business Income & Extra Expense: Funds payroll, debt service, and temporary space until operations resume, matching the downtime modeled in your recovery plan.
• Equipment Breakdown & Sprinkler Leakage:  Addresses surge damage, boiler failures, or accidental discharges that destroy electronics even when flames never spread.
• Debris Removal, Pollution Cleanup, & Fire Department Charges:Handles mandated disposal, hazmat testing, and municipal response invoices.
• Wildfire Defense & Utility Interruption: Adds preventative services, emergency fuel, and off-premises power-loss protection when grid outages trigger losses.

Rising Costs

CoreLogic's 2024 Wildfire Risk Report shows 4.5 million U.S. homes face “high” or “extreme” wildfire risk, a 55% jump over the prior decade, prompting carriers to tighten terms and layering deductibles across the Hudson Valley's expanding wildland-urban interface.¹

Verisk's latest reconstruction index notes commercial lumber and electrical costs remain 9% above pre-pandemic baselines, so insurers are scrutinizing reported replacement cost data and limiting blanket policies that haven't been trended.²

Meanwhile, NFPA points to aging electrical infrastructure as the leading cause of structure fires in buildings over 40 years old, a profile that matches many Rockland storefronts and multifamily properties, so underwriters are asking for panel upgrades and infrared scans before issuing quotes.³

Cheaper Premiums

• Document NFPA 25 sprinkler inspections: Carriers credit annual testing and five-year internal valve checks because they reduce accidental discharges and large losses.¹
• Improve ISO Public Protection Class (PPC) data:  Verisk allows updates to hydrant distances, station staffing, and alarm connectivity; better PPC grades typically translate into 5%-15% premium relief.²
• Adopt IBHS Wildfire Ready practices: Clearing defensible space, using Class A roofs, and screening vents per IBHS guidance can unlock wildfire-defense credits and surplus-lines options.³
• Layer deductibles strategically: Structured towers that use higher all-other-peril deductibles paired with catastrophe buy-downs keep base premiums manageable while preserving disaster limits.⁴
• Infrared and electrical scans: NFPA research shows thermography detects failing breakers before they ignite; sharing scan reports demonstrates proactive loss control to underwriters.⁵

What We Do

We start with a quote to document your property and its features, such as fire walls, alarm monitoring, gas/water safety devices, along with general information about the property. From there, we shop the market to find the best coverage options and pricing for your specific needs. Once a policy is in place, we continue to monitor for changes in your risk profile or market conditions to ensure you always have optimal coverage.

Our goal is to provide you with peace of mind, knowing that your business is protected against risks. We work closely with you to understand your unique situation and tailor an insurance solution that fits your needs and budget.