The Expert Podcast

• Natural disasters like fires, hurricanes, hail storms, and earthquakes have dominated the news this year.
• One of the first questions after these disasters is: "What happens with my insurance?"
• It's crucial to understand how insurance covers damages from natural disasters compared to standard home losses.

• Fire Insurance vs. Natural Disasters:
  • Regular fire insurance may not cover natural disasters like hurricanes, tornadoes, floods, or sinkholes.
  • Coverage varies based on the disaster type.
• Earthquake Coverage:
  • In some areas (like the West), earthquake insurance only covers a percentage of the cost to rebuild your home, not the full amount.
  • You might have to pay out-of-pocket for the difference if your insurance falls short.
• Home Replacement Values:
  • Your home may not be insured for its full replacement value due to rising costs (inflation, materials, labor).
  • Be sure to check if your policy reflects current market costs for rebuilding.
• Building Codes and Standards:
  • Current building codes may require upgrades to your home after a disaster.
  • Ensure your policy covers these potential upgrades; otherwise, you may face additional costs.
• Deductibles for Natural Disasters:
  • Deductibles for natural disasters may be much higher than usual, sometimes 20-30% of the loss, which could result in significant out-of-pocket expenses.

• Visit riskcoverage.com for more information on policies and coverage.
• Access one-on-one consultations with licensed insurance agents for expert advice on your coverage.

• Make sure to fully understand your policy and what is covered in the event of a natural disaster.
• For personalized advice, schedule a live consultation with a licensed expert via actualhuman.com.