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Flood, Fire, and Earthquake Insurance

By Compuquotes Team on March 27th, 2008
Homeowners Insurance

Potentially, everyone on earth is subject to flood, fire, or earthquake damage. Naturally some areas of America are more prone to natural disasters forcing many private insurance companies to suspend insurance coverage.

To determine what kind of coverage you will need in your insurance policy you should see what your current policy covers and add on the prices of inexpensive endorsements to your policy.

If you don't know about your area find out what types of natural disasters are related to your location such as floods, earthquakes, hurricanes, forest fires, and tornadoes. An unnatural disaster would include war, nuclear accidents, civil disobedience, and terrorism.

The majority of traditional homeowner's insurance policies specifically don't cover flood damage. There are many lenders who require flood protection through the NFIP. The NFIP (National Flood Insurance Program) is under FEMA and the department of Homeland Security. You can visit the website for detailed information regarding this program.

The flood insurance offered by the NFIP also covers flooding caused by hurricanes, rivers, and tidal waves if two acres or two adjacent properties were damaged. The flooding and water damages caused by broken pipes, backed-up sewers, and fire hoses are covered by standard home insurance, unless otherwise specified.

Like I said before, everyone on earth has the possibility of experiencing an earth quake. However there are certain areas that are more prone to earthquake activity. These areas are found along the Pacific Ocean including Alaska, Hawaii, California, Oregon, and Washington. There is also activity in Nevada, Utah, Idaho, Wyoming, Arkansas, Tennessee, and Missouri.

You can purchase earthquake endorsements to be an addition to your homeowner's insurance through a private company. Your premiums are determined by the probability of an earthquake, your location, soil type, and building structure. The deductibles that come with earthquake are generally pretty high, up to about ten to fifteen percent of the buildings structural limit.

Many aren't aware that the damage caused by water pipes or broken glass as a result of an earthquake can be claimed under their standard insurance. If you experience any damages to your vehicles due to an earthquake it can be covered under comprehensive insurance.

Those who own houses in heavily wooded areas or dry grassland are considered high risk for forest fires. To better help determine the level of risk in your area you can visit the Nation Interagency Fire Center. They publish up to date fire maps at their website.

Insurance companies tend to refuse forest fire protection for those who own properties in wooded areas or are far from the fire stations. For those who aren't in high risk areas the majority of companies will offer discounts if there are preventative products installed including fire alarms and sprinklers, fire extinguishers as well as fire-resistant roofs.

Tornadoes are most common in the states that lay to the east of the Rockies, but they do occasionally happen elsewhere. You can generally purchase this type of protection through your typical homeowner's insurance policy.

The best way to figure out what coverage you need is to assess the risk of your area carefully. Different companies offer different levels and prices of benefits so do a thorough search to find the best coverage at the best price.

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