Natural Disasters Insurance Gaps

Home Tool Kit



Wherever you live in this great country, there’s always a possibility you’ll experience a natural disaster. From serious floods soaking walls and family pictures, to devastating earthquakes leveling homes to the foundation, Mother Nature has some power up her sleeve, and the results can be life altering.

As a homeowner, the risks are even greater. Without adequate insurance, your house or condo might not be covered if a natural disaster causes damages.

So what?

While you might think your Condo or Homeowners insurance covers any kind of water damage or property damage, in reality there are limitations. Your typical Condo or Homeowners insurance policy is designed to cover ordinary damages. Things like burst pipes, washing machine floods, fires, or theft are usually covered, but rising water and earthquakes usually aren’t.

That means if a hurricane or a serious rain storm sweeps through your area and floods the basement, your typical Homeowners insurance probably won’t cover it…without extra coverage.

That’s a major coverage gap!

Question: How do your cover your house or condo from damages caused by natural disasters?

Answer: Flood insurance and Earthquake insurance

According to the Federal Emergency Management Agency (FEMA), floods are the main source of natural disasters in the country. The problem is, only about 13% of homeowners have a Flood insurance policy!

Flood insurance adds another layer of coverage in addition to your Homeowners insurance, filling this gap and covering your home and your stuff from damages caused by rising water. This is vital if you live in a coastal town, in low-lying areas, or anywhere prone to floods, hurricanes, or storms. But it can be important in other areas too. Keep in mind though, that there’s usually a 30-day waiting period before Flood insurance kicks in, so plan ahead before there’s a flood threat at the door.

Earthquakes are another natural disaster typical Homeowners insurance normally doesn’t cover. If you live in an earthquake zone, your home and your personal property is at risk of damage…and you could be left with the bill. That’s why it’s important to consider Earthquake insurance to fill that coverage gap.

Talk to a Farmers agent today, and see how a Flood policy or Earthquake coverage/policy could fill gaps in your insurance, and cover your property from natural disasters.

The information contained in this page is provided for general informational purposes only, and is not meant as professional or expert advice. Every attempt is made to ensure accuracy and timeliness, however all content is presented without guarantees.