Disaster Insurance

Do you have adequate diaster insurance coverage?

There is no geographical location on earth where inhabitants are completely safe from natural disasters. From floods, tornadoes and hurricanes to earthquakes and fires, all homes are vulnerable to damage and destruction. This is why it is important to ensure that your home and family are covered by comprehensive disaster insurance.

Several types of disaster insurance are available in most areas, but the availability of specific products is highly dependent on your particular risk zone. General-purpose natural disaster insurance can cover you no matter what risks you face in your geographic area. You may also want to consider purchasing a specific type of disaster insurance such as flood insurance, hurricane insurance or earthquake insurance. These products are targeted to address specific risks in your area. Such plans offer good value because they aren’t covering you for disasters that are unlikely in your location; thus, if you don’t live in a place where hurricanes strike, you won’t have to pay for protection against them.

Keep in mind the fact that insurance rates rise and coverage drops as your degree of risk becomes more significant. So, for example, flood insurance can be expensive if you live in an area that has experienced several floods in the past. However, the higher premiums can be worth the investment if the likelihood of a major flood causing significant damage is high. Consult an insurance company or call your personal insurance agent to find out how to balance costs and benefits.

An alternative possibility, especially if you’re concerned about the price of your premiums, is a disaster recovery insurance policy. These lightweight policies help with the cost of fixing damage to your home and property after a variety of disasters, but they may not cover other expenses. However, they’re a great option if your main concern is catastrophic rebuilding costs. They typically cover fire damage restoration and/or water damage restoration.

Why Is Disaster Insurance Important?

  • Disaster insurance ensures you, your family and your home are taken care of in case of a natural disaster.
  • It helps with rebuilding costs, as well as temporary housing and living expenses.
  • No place on earth is completely safe from natural disasters.

Things to Consider When Buying Disaster Insurance

  • What are the risks of different types of disasters in your area?
  • Should you buy a general-purpose disaster policy or a specific policy?
  • Weigh costs and benefits carefully to determine which policy is the best buy, and compare hurricane, flood or earthquake insurance quotes.

Recommended Brands of Disaster Insurance

  • Allstate
  • FloodSmart
  • USInsuranceOnline.com