Natural disasters can happen at any time and leave devastation in their wake. It’s essential for businesses and homeowners alike to understand how insurance covers these unexpected damages. At Strickler Insurance, we believe that it is crucial to inform our clients about how they can properly protect their assets from a variety of risks. Additionally, different insurance policies handle natural disasters differently. Understanding this is an essential aspect to ensure you, your home, and/or your business are protected from the devastation of natural disasters.
Types of Natural Disasters and Their Insurance Coverage
Each type of natural disaster can require its own type of insurance coverage:
1. Insurance Coverage and Hurricanes
Homeowners insurance typically covers damage to your siding, roof, and other structures on your property resulting from hurricanes – like fire, high winds, and lightning. Although flooding is a common occurrence with hurricanes, damage from floods is not covered by standard homeowner’s insurance policies. It is important to note that some homeowner’s insurance policies have a separate deductible for hurricane damage that may be higher than your standard deductible. This means that you will have to pay a larger amount out of pocket for repairs before insurance coverage takes effect.
2. Flood Insurance Coverage
Flood damage is one of the most common exclusions in standard homeowner’s insurance policies. To be protected against flooding, you will need to obtain a supplemental flood insurance policy. These policies are often backed by the National Flood Insurance Program (NFIP). Damage from rising water, including loss of personal property and structural damage, will be covered by flood insurance.
3. Earthquakes & Insurance Coverage
Like floods, normal homeowner’s insurance typically does not cover earthquake damage. If you reside in a seismically active area, it may be a good idea to look into obtaining an insurance policy that covers earthquake damage. This policy can help to pay for home repairs and replace personal belongings that were damaged or lost during an earthquake.
4. Insurance Covering Tornadoes
Most homeowner’s insurance policies cover damage to the home caused by a tornado – including strong winds. It’s important to check your policy to ensure that it does not exclude wind damage and to be certain that you have enough dwelling coverage. If your policy does not cover wind damage, you may want to consider additional windstorm coverage for your home – especially if you live in an area that frequently experiences tornadoes or strong winds.
5. Insurance for Wildfires
Across the United States, wildfires and brush fires are becoming more and more common. Standard homeowner’s insurance will typically cover damage from wildfires, however there will be variances from insurer to insurer. It’s important to be sure that your policy adequately covers the replacement of your home and personal belongings in the event of wildfire damage. Additionally, those who live in areas that are at a higher risk of forest fires and wildfires may have to pay higher premiums for coverage, or may need a separate policy for comprehensive coverage.
Prepare for Natural Disasters with Adequate Insurance Coverage
When it comes to natural disasters, preparation is essential. To be sure that you have adequate insurance coverage against natural disasters prevalent in your area, it is very important to review your insurance policy. Take the time to understand what is covered and what is excluded under your current homeowner’s insurance policy. Be sure to check for any coverage limits in relation to natural disasters.
Based on your policy review, you may want to consider additional insurance coverage. This could include flood insurance, increasing your coverage limits on personal property, or earthquake insurance. If you live in an area that experiences one or more natural disasters on a regular basis, it is also extremely helpful to create a home inventory. In the event of a disaster, this inventory will help you prove the value of your possessions during the claims process. For high-value items, keep receipts and photos for your records.
The Insurance Claims Process for Natural Disasters
When dealing with the aftermath of a natural disaster, going through the insurance claims process can feel overwhelming. Understanding how the process works beforehand can help to ease any anxieties when the time comes to begin:
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Contact Your Insurance Provider: Be sure to report your claim to your insurance provider as soon as you are able to. Have your policy number and information regarding damages ready to go when you contact your insurance company.
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Document the Damage: Take photos and/or videos documenting the damage to your home and property after a natural disaster. These will be helpful for insurance purposes. It is also helpful to keep records and proof of all communication you have with your insurance provider.
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Obtain Estimates for Repairs: Reach out to contractors for estimates to repair the damage caused by the natural disaster. Doing so can help speed up the insurance claims process.
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Stay in Touch With Your Provider: Maintain contact with your insurance agent and regularly follow up with them to ensure that your claim is being processed properly.
Contact Strickler Insurance Today
Although natural disasters can be devastating, understanding how your insurance coverage works can help you overcome these challenges. At Strickler Insurance, we are dedicated to helping you find the right insurance coverage to protect your home and business against the unexpected. Don’t wait for disaster to strike; review your coverage today to make sure you’re ready for anything mother nature throws your way. Contact Strickler Insurance to discuss your insurance needs, today.
