Natural disasters are unavoidable especially in certain areas that experience disasters with changing weather conditions. Natural disasters can be in form of hurricanes, blizzards, floods, tornadoes or even wild fires among others. When such events occur, one is rendered homeless and dry financially. A home insurance cover will protect you in such events and it is important for everyone to understand the limitations that are attached to home insurance policies.
Insurance companies are usually very careful with home insurance covers as they can be such a costly affair. For example rebuilding a home that has been destroyed in a natural disaster can be very expensive and very few insurance covers can take up that responsibility. Most natural disaster will not be covered by basic policies. This is especially so if you live in an area that has been classified as high risk. Let’s take a look at some common natural disasters and whether they can be covered or not;
Flooding seems to be a slippery area with most insurance companies. This is because not all flooding is due to the same causes. When providing cover against flooding, most insurance providers will not include flooding form sinkholes, sea level rise or rivers. Some policies would provide cover against plumbing failures. For individuals who live in high risk areas that experience flooding often it is advisable to purchase flood protection insurance policy that is supported by the government.
Most home insurance policy providers will offer cover against windstorms but will not offer protection against flooding which is as a result of windstorms and hurricanes. However some companies will offer protection against flooding but it is important to check the finer details of the policy in order to know the definitions that your insurance provider works with.
Earthquakes are rarely included in home insurance policies. What you can do is to buy supplementary coverage. When buying insurance against earthquakes the insurer will be very keen to know how the house was constructed, the stability of your foundation and the quality of the building materials used. These may not be up to standards in most case and may lead to disqualification from a cover against earthquakes. However in the event that your insurer agrees to provide cover against earthquakes it is important to check the fine print and check for loop holes that may cause you not to get paid.
If you live in areas where volcanic eruptions are rampant then you will most likely be able to get insurance cover against volcanoes in your region. It is however important to note that most covers against volcanoes cover certain risks like dust, ash, lava and removal of particles from volcanic eruptions. There are serious implications of volcanic eruptions such as tremors and landslides and rarely will they be included in insurance covers against volcanic eruptions.
Basically it is important for every individual to understand the natural disasters that may be a risk to them and proceed to shop for a home insurance cover that will protect them against the most severe of implications of natural disasters in their area.
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There is without a doubt a lot of information that is out there in regards to insurance