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Why Do I Need Separate Flood and Earthquake Insurance Policies?

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Does Your Home Insurance Cover Flood and Earthquake Damage?

 

A number of disasters are covered by your homeowners insurance in Renton, WA. However, every policy has its limits. Most standard homeowners insurance policies exclude flood and earthquake damage because they are considered mass-destruction events. If you live in a flood zone or an area prone to earthquakes, you will need to purchase separate flood insurance or earthquake insurance.

 

What disasters are covered by home insurance?

Although individual policies will vary, a standard home insurance policy covers a range of potential hazards and disasters, including:

  • Fire
  • Lightning
  • Windstorms and hail
  • Smoke damage
  • Explosions
  • Vandalism
  • Theft
  • Damage caused by aircraft or vehicles

 

Standard policies do not cover flood damage, earthquakes, sewer backups, or wear and tear.

 

How does flood insurance work?

Most flood insurance is administered under the Federal Emergency Management Agency (FEMA). Homeowners and renters are able to purchase flood insurance policies through insurers to cover their home and belongings from flood ruin. A policy covers direct physical loss from floods and from flood-related erosion caused by flash floods, severe storms, abnormal tide surges, or similar situations resulting in flooding.

 

Who needs earthquake insurance?

Since homeowners and renters insurance policies will not cover earthquake damage, an earthquake insurance policy should be considered. If you live near a fault line or an area with seismic activity as a result of drilling, then you could benefit from earthquake insurance. Vehicles tend to be covered for earthquake damage under your comprehensive auto insurance policy.

 

Flood insurance and earthquake insurance doesn’t have to be hard to find. When you need to find coverage to suit your budget, talk to the professionals at Humble & Davenport Insurance today.