A home insurance policy usually covers natural disasters like hurricanes, windstorms, hail, lightning, fire, explosion, extreme cold, theft, and volcanoes. However, the home insurance policy does not cover nuclear, tsunamis, floods, or earthquakes.
Before a natural disaster occurs, you must know what your home insurance can and can not cover since various types of policies are available. Read on to learn more about what a home insurance policy covers.
Natural disasters covered by a home insurance policy
Standard home insurance can cover various types of catastrophic natural disasters. But, if you reside in an area that is not prone to these perils, you should talk with your insurance agent to know your protection options.
Below is information on common disasters that home insurance can cover.
? Hurricanes
Hurricanes are similar to tornadoes for the reason that they both cause damage to personal belongings and structures. It is covered if the hurricane is due to hail or wind. However, there would be a separate or limited coverage and higher deductible when you live in a coastal area.
If you live in a coastal area and are affected by a hurricane, you can work with a hurricane insurance claims lawyer to ensure you get fully compensated. However, you should note that your insurance policy does not cover floods, except you have a separate flood insurance policy.
? Fire
When a fire occurs, your personal property and dwelling place is covered under a standard home insurance policy. There are no restrictions except if you have a policy limit, if the fire was set intentionally, or if you live in areas prone to wildfires.
Additionally, removal and teardown of damaged belongings and materials are also covered. High-valued items like fine arts and jewelry might have limited or no coverage when it is not scheduled.
? Tornadoes
A tornado can damage your building and personal property with fallen trees, flying debris, hail, and high winds. Most personal and dwelling property coverage protects you financially from such damages.
For example, if hail or wind causes damages to your roof and thus results in rainwater damaging your home, you will be covered, except your policy doesn’t include these perils.
Certain areas are prone to tornadoes and, therefore, might require a different deductible for hail or wind, called disaster deductibles. In addition, when flood damage occurs due to a tornado, it will not be covered under a standard home insurance policy but in a separate flood insurance policy.
? Lightning
Lightning strikes can result in wiring damage, fire, or a surge that damages your electronics. The standard home insurance coverage covers your residence and personal property, even when lightning strikes a tree that damages your belongings or home. However, the cost of removing the tree might not be covered, but you should check your home insurance policy.
Natural disasters not covered by a home insurance policy
A home insurance policy covers most natural disasters, but some are not covered. Let’s find out about them.
? Floods
Every type of home insurance policy excludes flood from its coverage list. However, in recent years, climate change has been the cause of the most devastating flood events that frequently happen across the country. You can purchase flood insurance from your insurance agent as a separate entity or directly via the National Flood Insurance Program (NFIP).
? Earthquakes
Earthquakes are not covered under a home insurance policy, but you can purcahse an endorsement that you can add to your policy for an added cost. About half of the United States is at risk of earthquake damage.
Earthquake insurance can averagely cost around $100 to $300 annually. So when you cannot afford a replacement of your belongings or even rebuild your home when damaged, you should talk to your insurance agent to learn about earthquake insurance.
? Tsunami
A tsunami can travel very far inland and is usually caused by underwater volcanic eruptions or earthquakes. A tsunami is not covered by home insurance, but you can buy flood insurance covering damages caused by tsunami waves.
Wrapping Up
You will need insurance when a loss or damage occurs that is too expensive to cover. Most damages can be covered by standard homeowners insurance policies, such as fire and theft, but they cannot cover every natural disaster.
When a natural disaster hits your home, your insurance should be able to help you. This is where having the right insurance comes into play.
But, if your insurer claims you don’t, you can seek the services of an attorney to help review your policy. An experienced insurance claim attorney can ensure you get the help you need.
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