Floods, Earthquakes and Fires: Secure vs. Insure

Natural and unnatural disasters affect everyone.and near the Atlantic Ocean, Gulf of Mexico,
Some areas of the United States are so prone toIndian Ocean, Caribbean Sea and Pacific Ocean. In
natural disturbances that many private insurancethe United States areas surrounding the Gulf of
companies will not offer coverage. For example,Mexico and along the eastern coastlines of Florida
most homeowners insurance will not coverto Maine are particularly prone to this type of
damage caused by floods or earthquakes, andsevere weather.
few will cover forest fires if your property is inTo determine the level of risk in your area: View
an undeveloped area.hurricane maps published by the National Climatic
When evaluating what kind of insurance coverageData Center at
you need, consider what your current policyInsurance: Many standard insurance policies will
covers, any inexpensive additions (orcover damages covered by wind but not by
endorsements) to your active policy and yourflooding. Flood insurance must be purchased
location related to the risk of natural disaster.through the National Flood Insurance Program.
There are many types of disasters to consider,UNNATURAL DISASTERS
including natural disasters like floods, earthquakes,War
forest fires, tornadoes and hurricanes. UnnaturalDamage to property from war activity, due to
disasters include war, nuclear accidents, civilmodern technology, could potentially happen
disobedience and terrorism.anywhere. Most insurance policies will not cover
NATURAL DISASTERSlosses caused by a war.
FloodsNuclear Accidents
Who is at risk? Everyone. Any area canIf a nearby power plant irradiates your property,
experience an unusually wet season and theinsurance will generally not cover damages.
wastewater management systems of most citiesHowever, it may help to express liability concerns
do not have the means to control a rapid increaseto the owners of the plant. Before purchasing a
of water in paved areas. Generally, if yourproperty, you may want to visit the US Nuclear
property lies near a body of water or in an areaRegulatory Commission website at to discover if
prone to hurricanes or flash floods the Nationalan active plant is located in the area.
Flood Insurance Program (NFIP) considers you toCivil Disobedience
be at a high risk.Civil disobedience usually refers to a riot or other
To determine the level of risk in your area: Visitcivil commotion. Standard insurance will generally
sponsored by the NFIP, to see floodplain mapscover damages resulting from a riot, unless you
and search by zip code the flood risk of a specificwere actively involved. If your property is broken
area.into and items are stolen or vandalized, most
Insurance: Traditional homeowners insurance doesinsurance policies will cover the cost of repairs and
not cover flooding. Many lenders require floodreplace stolen items. However, in order to receive
insurance if the property is located in a high-riskthe full value of lost items you may have to
area. Private agencies do not provide floodpurchase "replacement cost coverage."
insurance; flood insurance is available through theTerrorism
NFIP, who is under FEMA and the Department ofOn November 26, 2002, President Bush signed
Homeland Security. Information about thisthe Terrorism Risk Insurance Act, which stated
insurance program is available at the NFIP websitethat private insurers and the federal government
or through an insurance quote service. Floodshare the risk of losses attributed to terrorism.
insurance offered by the NFIP usually also coversThe act also rescinded state exclusions for
flooding caused by hurricanes, rivers and tidalterrorism. This act was set for a three-year
waves if two acres or two adjacent propertiesperiod; check in your state to find out how your
are affected. Water damage from broken pipes,state currently enforces coverage for acts of
backed-up sewers and from fire hoses is usuallyterrorism. Additionally, evaluate your particular
covered by standard insurance.insurance policy to see what benefits you may
Earthquakesreceive if an act of terrorism affects your
Who is at risk? In the United States, the mostproperty.
active areas are along the Pacific Ocean includingAdditional Considerations:
Alaska, Hawaii, California, Oregon and Washington.- Homeowners may want to consider, regardless
Inland areas of activity include Nevada, Utah,of location, Additional Living Expenses (ALE), which
Idaho, Wyoming, and a small area between theis a benefit that will reimburse up to 10-20% of
three connecting corners of Arkansas, Tennesseethe structural coverage of your home to help
and Missouri.with temporary living expenses.
To determine the level of risk in your area: The- Business owners may want to consider
United States Geological Society Earthquakespurchasing 'contingent business interruption' or
Hazards Program hosts maps at [ that are'contingent business income' coverage that can
updated by the hour for the entire planet.help cover profit loss or extra expenses that
Residents of California can go to [ to view anoccur as a direct result of interruption of supply
interactive shaking and liquefaction map.due to events outside the businesses control. This
Insurance: Earthquake endorsements can betype of coverage could be beneficial if your main
added to most insurance policies purchasedsupplier or customer is located in an affected
through a private agency. In California, residentsarea.
can purchase earthquake insurance through the- Landslides often are not caused by earthquakes
California Earthquake Authority. The probability ofor flooding. This unique kind of earth movement
an earthquake, your location, soil type and buildingfalls into a commonly undefined area of coverage;
structure determine premiums. Deductibles onconsult your policy to see if your insurance
earthquake insurance are typically very high, oftencovers this type of occurrence.
up to 10 to 15 percent of the building's structural- Standard insurance may cover some natural
limit. Damage caused by broken gas lines or waterdisasters, such as damage from windstorms, hail,
pipes as a result of an earthquake typically maylightning and volcanic eruptions.
be covered by standard insurance. Earthquake- Even if you purchase complete coverage, relief
damage to vehicles is covered by comprehensivedoes not come instantly. With this in mind, it is a
insurance. Liquefaction can cause water damagegood idea to keep on hand food, water, cash, a
by mud and standing water resulting from anbattery operated radio, first-aid supplies and
earthquake. Consult your policy to determineprotection from the elements to last at least
whether your earthquake endorsement or otherthree to four days.
additions cover this type of phenomenon.- Document your belongings well. Keep an
Forest Firesaccurate and up-to-date copy of your records
Who is at Risk? Properties in wooded or dryand policies off the premises in a safe place.
grassland areas or located far from fire stationsIn Summary
are considered at risk.Once you've determined what the risks are in
To determine the level of risk in your area: Theyour area carefully review your policies. Keep in
National Interagency Fire Center publishes currentmind that policies may offer different levels of
fire maps at [benefits with regards to property. Evaluate
Insurance: It is quite common for insurancecoverage in terms of the structure and content
companies to refuse coverage for properties inof a building, the outer buildings such as sheds,
wooded areas or far from fire stations.barns or garages, landscaping, and temporary
Fortunately, unless you are in certain high-riskliving or relocation expenses.
areas, many agencies will offer coverage orUnderstanding your policies can be difficult.
endorsements. Some policies offer benefits toNevertheless, it is better to invest a little time
help clean smoke damage and cover accidentalnow, than worry about it later. If you think your
fires or lightening fires in developed areas. Manyinsurance coverage falls a little short, shop around
insurance companies will extend discounts ifto find the kind of coverage you need or speak
preventative products are in place, including firewith your representative about additions to your
alarms or sprinklers, fire extinguishers andcurrent policy. You may also want to try on online
fire-resistant roofs.service like
TornadoesReferences
Who is at Risk? Tornadoes are most common inAssociation of Bay Area Governments.
the states located east of the Rockies. However,Earthquake Maps and Information, Liquefaction
they occasionally do occur in other areas.and Information.
To determine the level of risk in your area: TheFederal Emergency Management Association
National Climatic Data Center tracks severe(FEMA). What is a Flood?
weather. To view maps and historical informationThe Basics of Earthquake Insurance.
related to tornadoes visitInsurance Information Institute. Earthquakes: Risk
Insurance: Coverage for this type of disaster isand Insurance Issues.
usually available through a standard insuranceKreidler, Mike. Facts about Earthquake Insurance [
policy. Most policies will also cover structuralNational Interagency Fire Center. Fire Maps. [
damage from hail that quite often accompaniesU.S. Department of Commerce. NOAA Satellite
this type of weather. Damage to trees andand Information Service, National Climatic Data
landscaping is not usually covered unless anCenter. Hurricanes.
addition is purchased.U.S. Department of Commerce. NOAA Satellite
Hurricanesand Information Service, National Climatic Data
Who is at Risk? Hurricanes occur most often overCenter. Tornadoes.