Safeguard Your Home From Natural Disasters with Insurance
Your home is your castle. It’s where you house your precious belongings, watch your family grow, and where fond memories are made. While you may have the right homeowners insurance to protect your property against certain perils, what happens when mass-destruction events like earthquakes and floods occur? Most standard home insurance policies exclude these disasters from coverage, leaving your property exposed to risk. It only takes a small rumble of the earth or a couple of inches of standing water to ruin a property, which is why it’s imperative homeowners consider purchasing earthquake insurance and flood insurance.
Earthquake insurance is designed to repair or rebuild your property if it is damaged by an earthquake. It typically covers:
- Dwelling Coverage: This protects you if your home is damaged due to an earthquake. Depending on your policy, it may exclude landscaping, pools, fences, masonry, or separate buildings.
- Personal Property Coverage: This coverage will protect your personal belongings inside your home, including your clothing, electronics, furniture, appliances, and more. Be aware that if you have items of high-value, you may need additional cover.
- Additional Living Expenses (ALE) or Loss of Use:If your home is so badly damaged from an earthquake that you need to live elsewhere temporarily while it is being repaired, your insurance will help to cover the associated costs. From hotel bills to restaurant tabs to laundry costs, this coverage can help while you are living away from home.
When most people think of a flood, they think of events such as Hurricane Katrina or Hurricane Sandy, which were huge events that caused significant damage and loss. In reality, most floods are caused by far less catastrophic situations. Storms, a broken dam, melting ice, and more can cause flooding in areas. What’s more, no home is immune to flooding; it affects us all.
Flood damage is not covered by your homeowners insurance and must be purchased as a separate, stand-alone policy. A flood insurance policy reimburses you for the work that you and other family members did to sandbag your home, move furniture, and clear debris. If you live in a flood zone, flood insurance may be required by your mortgage company.
Don’t wait until a flood is forecast – In most situations, you will have a 30-day waiting period when you purchase flood coverage.
Are you ready to secure the right coverage to protect your property from the worst? Contact the team at Great Park Insurance to get started.