Natural Disaster Coverage… Should You Get It?

I’m sure that all of you also felt incredibly saddened by the events that occurred in Oklahoma City. It’s so easy to forget that these things unfortunately do happen. There are so many different things to consider in such an event and the loss of life is obviously #1. Since this is an insurance blog, I’d also like to briefly talk about the more “material” aspects.

Know Your Coverage

In general, an insurance policy will protect you against specific types of damage and the default is that any cause is not covered. When there are exceptions to that (which there usually are), the policy will clearly outline them. Natural disasters are often part of that and will often be specified. Some insurance policies do not cover any natural disasters, some would cover them all and others would specify which ones are NOT covered. It’s important to know what is and isn’t covered. If you are not sure (sometimes insurance policies can be challenging to read), simply call up your insurance company or broker and find out.

Know Your Needs

Natural disasters are more likely to happen in some areas than others. That is obvious for hurricanes but is also true for earthquakes and tornadoes. It’s fairly easy to research that and determine how frequently (or not) such events happened. I personally could see myself seriously considering such an insurance if I lived in an area where such events occurred frequently. Why? Because they can be so sudden and cause such devastation that having no protection would probably be an even bigger problem. I feel like I’d already have too much to deal with at that point.  But I guess it depends on each person…!

If you need coverage for a specific type of coverage or think it might be worth it, ask around, find more info, you might be surprised…

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