Natural catastrophes can strike with little or no warning. So can man-made disasters. You can improve the odds of your home surviving an earthquake or an accidental fire by taking certain precautions, but you won't make it disaster-proof. To protect the investment you've made in your home as fully as possible, review your homeowner's insurance policy periodically with your insurance agent or company. Make certain you have all of the necessary protection for the threats you face. And check the dollar limits to be sure you have enough coverage to rebuild your home and your life, should misfortune occur.
WHAT YOUR INSURANCE POLICY COVERSMost homeowners insurance policies cover damage from the following natural events:
EARTHQUAKE COVERAGE
Earthquake protection is sold as extra coverage to your homeowner's policy. Talk to your insurance agent or company representative to determine whether you should purchase this insurance. In earthquake-prone areas, the price is relatively high. In other areas, it is relatively inexpensive.
FLOOD INSURANCEThe federal government provides flood insurance through the National Flood Insurance Program. Keep in mind that 25 to 30 percent of all flood claims are paid for homes outside of special flood hazard areas. So, if your community participates in the National Flood Insurance Program, contact your insurance agent or company representative about purchasing this coverage.
AFTER DISASTER STRIKES
If your home is damaged in either a natural disaster or a man-made one, report it immediately to your insurance agent or company representative and make temporary repairs to prevent further damage. For information about filing an insurance claim after disaster strikes, contact:
Your insurance agent or insurance company
Insurance Information Institute
110 William Street
New York, NY 20038
Phone: (212) 669-9200
Fax: (212) 791-1807
http://www.iii.org
