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By Staff Reporters
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Natural Disaster Insurance
Protecting accumulated assets by insuring them against the wrath of Mother Nature
Most homeowners’ insurance policies do not cover damages arising from floods or earthquakes. If a home, or any other real property like a vacation home or beach condo, is in an area subject to floods or earthquakes, consider the value of purchasing insurance that covers such catastrophes.
Take the time to review your homeowners’ policy, making sure that it will repair or replace your roof if damaged by hail, and will apply in the event of high winds, rather than only in tornadoes. The key to the maintenance of any type of insurance is to anticipate all of the possible calamities, and then to decide whether you can afford to lose the assets exposed to those calamities.
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Filed under: "Ask-an-Advisor", Events-Planner, Financial Planning, Glossary Terms, Insurance Matters, Professional Liability, Risk Management | Tagged: earthquake insurance, earthquakes, flood inurance, home owner's insurance, insurance, insurance policies, mother nature, roof insurance, tornado, tsunami, volcano | Leave a comment »
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