There are two degrees of Arson. Arson in the first degree occurs when one knowingly and with malicious intent causes a fire or explosion which is dangerous to another, causes a fire or explosion to a residence, to a building where there is a person inside, or causes a fire to property valued over ten thousand dollars or more for the purpose of collecting insurance money. Arson in the first degree is a class A felony. Arson in the second degree happens when a person knowingly and maliciously causes a fire or explosion that results in damage to a building or any other structure or property. Arson in the second degree is a class B felony.