Insurance for Disasters

Disaster Insurance is an essential insurance policy type.  Unlike different types of insurance this one covers natural and man-made disasters such as tornadoes, floods, hurricanes, earthquakes, and malicious or accidental damage by other people.

Who Needs Disaster Insurance?

Disaster insurance can protect from natural or man-made disaster such as: tornadoes, earthquakes,floods, strikes, riots, and criminal mischief. It will insure your home, vehicles, property, personal possessions, and much more.

In 2011, the NOAA had a list of billion dollar disasters. The Insurance Information Institute reported that, "Catastrophes striking the United States in the first nine months of 2011 caused $32.6 billion in direct insured losses."  Disaster insurance covered a lot of this.

Take Action

For this type of insurance you have to keep a list of damages, repair costs, receipts during this period, and take pictures!  If you have proper records of the incident then your disaster insurance will be able to cover your losses.  It is important to get an insurance quote if you haven't already.

Claims Process

File an insurance claim as soon as possible. If you have disaster insurance then most insurance companies will be prepared to respond.

Federal Disasters

If your area has been declared a federal disaster by Federal Emergency Management Agency (FEMA), then it is recommended that you file an insurance claim with FEMA as soon as you finish your done with your own insurance company. In the event of extreme losses, your disaster insurance may not be able to assist you rapidly or cover all your losses. FEMA offers assistance when:

  1. Disaster insurance settlement is delayed;
  2. Insufficient settlements do not cover your losses;
  3. The Additional Living Expenses (ALE) have been exhausted;
  4. No rental resources are available, such as shelter.

By law, you must submit your disaster insurance information the FEMA within 12 months of filing a claim with FEMA.

Follow Up

After you file a claim, an adjuster will be sent to assess your situation. With larger disasters, there will be more claims, which means delays. Whatever the case, be sure to have a list of property items and property damage. Check your claim to verify what is covered under your plan. If the resources are available, contact local contractors for estimates on repairs. Federal disasters may affect the supply of materials and labor, affecting costs, so keep that in mind. There is also the option for a repair period extension, which grants you more time if you were unable to reach contractors in the given time period by the insurance company.  Be sure to get a disaster insurance quote and prepare yourself today!

Apr. 25 12'

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