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Most policies provide different level of coverages for the insured, policyholder may find different range of premium insurance best suit for their home and they may be eligible to add on extra coverage if their home is destroyed or damaged by fire. Purchasing extra fire coverage helps to pay for the cost of replacing, repairing, or reconstructing property that exceeds the policy's limit. The insurance provider will directly repay the home's current market value if it is declared a total loss. The fire policy usually compensates for lost belongings at market value, with the total payment estimated of 50% to 70% compensation of the home's insured value.