It is a common misconception that floods, earthquakes, tsunamis or even landslides are covered under the homeowners policy, however in most cases these are excluded coverages requiring separate policies to be in force.
Yet many homeowners choose to roll the dice or are unaware that their homeowner’s insurance policies do not provide disaster coverage. In fact, only 19 percent of homes in the United States are covered by earthquake insurance. The type of disaster coverage a homeowner needs depends often on geography. Pacific Northwest residents, for instance, are wise to purchase earthquake and flood insurance. The Portland metropolitan area rests on a major fault line, and flooding is the most common natural disaster that affects U.S. residents, with losses of more than $1 billion per year.
Many homeowners do not purchase flood insurance, though it can be bundled easily into an existing homeowner’s insurance policy, as can earthquake insurance.
Coastal properties are properties that may need specialized coverages such as flood, tsunami and landslide.
Moreland Insurance works with carriers across nine states, which means we can get the best policy terms and broadest disaster coverage for our clients at the lowest premium costs.
We can find disaster coverage for nearly any homeowner. It is a myth that only new construction homes with no valuable contents can get earthquake or flood insurance. More than 90 percent of homes in the United States will qualify for earthquake insurance.
Your home is one of your important assets. Do not wait until a natural disaster strikes before you realize you need to protect your home and its contents. It might be too late by then. Call Moreland today to find out the best way to protect your home with earthquake and flood insurance.