IIAA Offers Tips For Fire-Safe, Money-Wise Holiday

N/Ae season for holiday fires. That means consumers may have to shell out money they can't afford to burn if they don't have the proper insurance, warns the <%=company%> (IIAA).

With average losses per fire at a whopping $20,000—a cost few families can afford to absorb—consumers should take time out during the busy holiday season to educate themselves about fire risks and the proper steps to take to protect themselves and their families from financial disaster.

Here are some of the facts on holiday-related fires:

• Holiday-related blazes will cause approximately $25 million in property damage and injure about 1,200 people this year alone, says the U.S. Fire Administration (USFA). Many more fires will go unreported.
• Each year, from 1992 through 1996, an estimated 530 reported Christmas tree fires caused an average 11 deaths, 98 injuries and $21.4 million in property damage, according to the National Fire Protection Association (NFPA). The primary cause of these blazes: faulty electrical cords and plugs. In combination with poorly maintained and dry trees, a single spark can be costly—even deadly.
• Open flames, including candles and matches, was the second leading cause of all reported fires in 1995 and the third leading culprit in fire-related injuries. According to the NFPA, candle fires in U.S. homes double during the month of December.
• Heating mishaps remain the second leading cause of residential fires and residential fire-related deaths in the United States, says the NFPA. And these incidents are expensive. Home heating fires cause more property damage than any other type of fire except arson, accounting for as much as $300 million in losses in 1994 alone.
• When cooking for family or friends during the holidays, keep a watchful eye on your kitchen. Cooking was the leading cause of residential fires in 22 states from 1993 through 1995 and, annually, cooking fires are the hands-down leading cause of fire-related injuries in the home, according to the USFA.

So, how do you reduce the chances of becoming a fire statistic yourself this holiday season?

Follow some simple steps to make your home holiday fire-safe, including discarding old or frayed electrical cords, blowing out candles and turning off lights before leaving the house or going to bed, checking the batteries in your smoke detector and having a family fire escape plan.

And talk with your insurance agent about the proper coverage to protect you and your valuable possessions if something does go wrong. A few points to discuss with your insurance professional:

• Review your insurance coverage. All consumers should add an evaluation of their existing homeowners or renters insurance policy to their list of holiday precautions.
• Renters: Get covered! Even though a renters insurance policy costs as little as $150 a year, more than half of all renters have no insurance to cover their personal belongings in case of fire or theft.
• Insure valuable gifts. Valuable gifts, such as jewelry, furs, antiques and collectibles, may not be adequately covered under a standard homeowners or renters insurance policy. It is often necessary to purchase an "endorsement" or separate coverage for these items.
• Conduct a holiday home inventory. Use that new video recorder or digital camera to take an inventory of your new and expensive gifts and keep it as an insurance record.
• Keep gift receipts. Receipts are good for more than returning gifts. If you plan to have expensive presents under the tree this year, be sure to keep all of the receipts. In case of fire or theft, they may be your only proof of ownership.
• Insure your home office. Are you planning to use that new computer for business? If so, your homeowners policy may not provide enough protection. While homeowners policies do insure your home for fire-related damage, special endorsements or separate policies are often required to extend that coverage to your home office.