Natural disaster insurance is not considered as an actual policy that you can buy, your home insurance has already had norms that protect your property from wind and rainstorms, with snow and fire. Home insurance even extends its protection to the premium level which includes natural disasters like tornadoes, wildfires, volcanic eruptions, falling meteorites, and blizzards. It is still important to know that your home insurance policy doesn’t cover everything.
Below are the insurances covered in the disaster insurance policy:
For flood damage, you will have to purchase a flood insurance policy from the National Flood Insurance Program (NFIP) for protection. The NFIP is a public welfare program that collects data and performs research on flood damage which works through private insurers to provide the flood insurance.
There’s usually a 30-day waiting period for flood insurance. If you live in an area that’s more familiar with flooding, you need to purchase a policy before the flood season which helps you in avoiding any damage to your home or property.
Earthquake and sinkhole damage
Disasters like mudslides, landslides, sinkholes, and earthquakes are excluded from the home insurance policies. If you are living in an area where you are facing more earthquakes or other earth movements of the earth, you must purchase earthquake or sinkhole insurance. These policies can be quite expensive due to extensive experience of landslides.
There are many more disaster insurances available according to the requirements of the people living in risky areas and in India the insurance facility regarding disaster insurance is well and good people can avail the advantages and they should take the policies from saving customers from a big loss.