Virtually everyone that owns a residence has a homeowners policy but does that policy properly protect one in the case of a natural disaster? Below are a few important considerations to examine closely.
- Is one in a flood plain or likely to be suject to flooding in their home due to an overflowing water bed or other adverse natural condition/event that could cause damage? The National Flood Insurance Program issues coverage for this situation and it can be a life saver in a devastating event like hurricane Katrina or the recent Irene.
- Windstorm protection can be pertinent especially in the case where a tornado or hurricane can be destructive. Look at the policy closely to see if properly protected and if not consider the appropriate rider.
- A standard homeowners insurance policy may not guard against a mudslide. Certain areas of the country are more subject to this type of danger as well as homes on sloping ground or that are on weak soil. Look into this risk with your insurer, agent and or state insurance department. Research to see if useful stats are available in this regards.
- Earthquakes can be devastating and can cause extraordinary damage. A rider covering this types of event is worth consideration especially for those in areas with active fault lines. One does not want to find out later after one of these that their policy didn’t protect against an earthquake.
There could be other disasters risks out there not mentioned here. Talk with an insurance company or broker and state insurance department for more information.