Wood stoves pose an increased risk of fire and smoke damage to houses, as well as carbon monoxide poisoning for their users. Insurance companies require homes with wood stoves undergo a WETT inspection prior to being covered.
Homeowners insurance provides protection for your house, personal belongings and landscaping – but using wood stoves to heat your home could raise your premium by up to 10%.
1. The Risk of Fire
Wood stoves provide an efficient means of warming your home, yet also pose the threat of fire. A house fire caused by a wood stove could result in serious property loss and injury to family members as well as smoke residue staining surfaces throughout your house, which may prove expensive to repair later.
Fires caused by wood stoves are one of the main drivers behind home insurance claims, so be sure to inform your broker if you have one in your home when purchasing coverage. While some insurers will increase premiums accordingly, others may not increase rates at all.
Wood stoves are an economical way to heat the home during the winter, yet should be properly maintained to minimize fire risks and protect homeowners against potential disaster. But wood stoves should also be seen as potential fire hazards that must be managed carefully or they could cause catastrophic fire damage in your home.
Example: if your chimney is improperly lined, it could lead to overheated flue gases which ignite nearby materials. Also, failing to regularly clean your stove could build up creosote deposits which pose a fire risk.
Wood stoves present another risk: the release of toxic gases such as carbon monoxide into your home, creating serious health hazards for adults and children, potentially even being fatal if inhaled in large enough quantities.
Owning a wood stove increases the likelihood of lightning strikes causing damage in your home, so if lightning is an issue for you it is wise to utilize a metal chimney liner and have your chimney professionally inspected and maintained on a regular basis.
Before purchasing a wood stove, be sure to discuss its risks with your home insurance broker. Finding an understanding company who can offer an affordable policy with an acceptable deductible is key to making an informed decision.
If you have questions regarding your Ontario home insurance, feel free to reach out! Our experts are available for more information regarding how wood stoves impact insurance premiums as well as help find you the appropriate options that meet your individual requirements.
2. The Risk of Damage
Wood stoves generate creosote, an oily soot-like byproduct that can seriously corrode a chimney’s interior walls, leading to more frequent cleaning appointments for homes using these appliances and increasing fire risks in addition to smoke leaking into other combustible materials in your home. Consequently, owners using wood stoves should have their chimneys professionally swept more frequently as this increase risks of fire as well as potentially leading to smoke entering other rooms of their house resulting in smoke leaking into combustible materials in their home from this damage caused by wood smoke entering through other than just their chimney’s interior walls.
Wood stoves produce sparks while burning, which could ignite nearby items like rugs, furniture and paper that are flammable – such as your insurance provider denying coverage in such instances.
Prior to agreeing to cover your wood-burning stove, your insurance company may request that it is inspected by a certified professional in order to make sure it complies with local safety regulations and doesn’t pose a fire hazard.
Most companies will allow you to own a wood stove, but your chances of receiving a reduced premium could increase significantly if it meets EPA emission guidelines. Older models can produce pollutants that worsen both indoor and outdoor air quality; upgrading to cleaner-burning models could provide major health advantages.
Insurance companies take many factors into consideration when setting your rates, including your home type and location, its age and whether or not there are alternative heating sources – and whether a wood stove may be necessary in areas with particularly harsh winters to stay warm – but this will come at a price in terms of an increased insurance rate.
Be transparent with your broker regarding the presence of a wood stove in your home and keep records for any maintenance or inspections completed on it. Failing to disclose this information could result in claims being denied or even cancellation of your policy altogether.
3. The Risk of Injury
Wood stoves require frequent manual intervention and can expose their occupants to smoke, particulate matter and creosote/soot inhalation – potential pollutant sources that have been linked with health concerns among the elderly, pregnant women and those with preexisting conditions. Creosote buildup in chimneys poses a high fire risk as well as structural damage for homes.
Many homeowners insurance companies will only cover homes with wood stoves if certain criteria have been fulfilled, such as professional installation and inspection by an official inspector, as well as using them primarily as heat source rather than cooling source. Some insurers even apply a surcharge penalty to homes who do not meet eligibility criteria for wood stove ownership.
Insurance companies may mandate that homeowners follow safety guidelines by keeping three feet of space clear around their stove, free from curtains, clothing, toys, newspapers or carpet. They may also want assurances that regular maintenance of the appliance has taken place.
Pellet stoves that use compressed wood pellets instead of logs tend to have less of an impactful on home insurance premiums as they create less smoke and damage due to fire hazards.
Insurance providers sometimes request that homeowners keep an accessible fire extinguisher within easy reach. Furthermore, they might request confirmation that the wood stove has been regularly serviced and maintained.
Addition of a wood stove can add warmth and comfort to your home environment, but it’s important to be aware of any associated risks and their effect on homeowners insurance policies. If you have questions or are concerned, reach out to an independent home insurance agent who can offer advice or discuss options and help find one that fits both your needs and budget.
4. The Risk of Smoke
One of the many pleasures of winter is a cozy fire. However, homeowners should be wary of any risks associated with wood stoves – in particular they can increase your home insurance premium because of smoke and particulates they produce that damage the structure of a home and pose health risks such as lung and heart damage. Wood smoke may contain harmful air pollutants as well as criteria pollutants linked to disease or mortality in humans.
Most homeowners’ insurance companies will ask you about your primary heat source, and may charge an additional rate if it’s a wood stove, due to higher fire risks and emissions compared with other forms of heating options. Therefore, it is important to be forthcoming with your insurer regarding usage details as well as maintain it properly so your rates do not rise due to it.
Your insurer may require that if you own a wood stove, an inspection to make sure it complies with building and safety codes as well as age. They may ask if it was professionally installed. Likewise, they may ask that a chimney liner is installed as well as clearing away combustible materials around it.
An old stove that fails to meet EPA emission standards could raise your insurance rates significantly, as well as lead state and local air quality agencies to monitor wood stove emissions in homes – eventually even leading to burning bans being put into effect by them.
When operating a wood stove, it’s crucial that you follow all safety regulations provided by both its manufacturer and your local air quality agency. Keep a fire extinguisher handy just in case there’s an emergency with fire or smoke and get professional inspection of both chimney and flue pipe regularly. Also ensure fireplace doors remain closed when not being used so as to minimize heat and particulate escape into your home.
