Quick! Do you happen to know what your insurance policy says? Chances are good that you?ve never really looked at what your insurance policy really says, preferring to just settle for what the insurance agent has told you. Sometimes you even make the mistake of just assuming everything is covered, when that?s actually not the case at all. You don?t really want to wait until the worst happens ? a major disaster ? to find out that you are not as covered as you think you are.
Right now, this is the season for tornadoes, floods, and even earthquakes ? makes for a busy summer. However, if you are one of the fortunate few that aren?t going outside to look at destruction, then you need to really stop and make sure that you are as well protected as you assume that you are.
As it stands, millions of policies that are supposed to cover our homes even in the worst of times really aren?t as all-protecting as you might imagine. There are numerous times where an insurance company will deny a claim because you don?t technically have the coverage for it.
For example, many homeowners automatically assume that their homeowner?s policy covers flood, earthquake, and even damage from tornadoes. However, most policies don?t quite cover natural disasters the way they should.
Instead of worrying endlessly about it, you should make sure that you look at your policy. If you don?t have a specific rider that states that your damages will be taken care of in the event of a flood or an earthquake, then you need to get this coverage right away.
In specific, what does an earthquake or flood insurance policy cover? Well, in a nutshell, your policy is going to cover the cost to replace or even just repair your property.
It does get more detailed. You will need to make sure that the policy covers the entire dwelling, plus the garage and even the storage shed. That?s where your property ?lives? too, and if you?re not careful these areas can get overlooked ? costing you a lot of money in the meantime.
In addition, you also have to think about the fact that there could be limitations on the total cost of damages. This means that if the damage is really severe, you might still be out money. This is where you really want to be on good terms with your insurance agent, as they should be able to get your limits raised ? provided that you really do have valuable stuff to cover. This is where taking pictures of what you actually own can come in handy.
Speaking of valuable items, you will want to make sure that you really get good pictures of these items and make sure that your policy will cover the true replacement cost, not just what it might have cost you to buy the item when it was purchased. This is something that homeowners skip over, and it can really cost them big money.
Overall, do you really need earthquake or flood insurance? If you are in an area that is prone to getting earthquakes, then you will definitely want to get that type of coverage. When it comes to flood insurance, you definitely want to consider it because any time you have excessive rainfall, you have the potential for massive flooding ? and massive damage if you happen to be in the path of the flood.
Insurance really doesn?t have to be hard ? it?s just a matter of planning ahead!
from your own site.
Source: http://www.saveinsurancewithmetro.com/earthquake-flood-and-other-insurance-plans-you-might-need
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