KTAR Radio Phoenix
Drive Time Report
by Jim Cross/KTAR (April 12th, 2011 @ 8:18am)

PHOENIX -- Arizona's wildfire season could ignite at any time and homeowners are advised to take a look at their insurance policies before the flames flare.

Ron Williams heads up the Arizona Insurance Council and said homeowners need to make sure their policies cover the current cost of rebuilding their homes.

While home values are down, the costs of lumber, steel and concrete aren't.

"If you insure your home for just its current value, you could be out of pocket thousands of dollars if that home is burnt down," said Williams. "You face what is probably worse than the recession and that is the loss of a home."

Williams said despite home prices falling, homeowners "still need to build in the rebuilding costs to their coverages."

He said policies need to be updated to reflect home improvements -- such as remodeled rooms and new carpet.

Williams also said homeowners should make sure their policies cover hotels and food if they are evacuated or lose their homes to wildfires.