Natural Disaster Coverage

64% of homes may be underinsured by 27% to weather a natural disaster, according to Realtor Magazine. Unfortunately, 43% of U.S. homes may be at high risk of being destroyed by a natural disaster, according to MarketWatch. Although many homes have homeowners coverage, not all natural disasters are covered.

Covered Natural Disasters
Homeowners insurance policies typically cover natural weather damage done to property. This weather can include things such as lightning, wind, hail, snow, etc. In the event of weather related damage, depending on your coverage, your policy will help cover not only your property, but also your belongings. Although most homeowners policies cover weather-related natural disasters, there are some disasters that are not covered by your policy. These disasters may be sinkholes, earthquakes, floods, etc. These disasters may need additional coverage or policies.

Natural Disasters That Are Not Covered
Damage as a result of a flood is usually not covered under a standard homeowners insurance policy. Speak with your agent to discuss what your policy covers and if you need additional flood coverage. If you live in a location where flooding is likely, they may recommend that you purchase a flood insurance policy.

Earthquakes, sinkholes and settlement can also sometimes cause home damage.. Like floods, these may not be covered by your standard homeowners policy. Speak with your agent about potentially purchasing a separate policy to cover these sort of disasters, depending on state availability.

Don’t wait until it’s too late, speak with your agent to see what your homeowners insurance covers. If your home is in danger of a natural disaster, check with your agent to discuss potential additional policies.