Is Having Disaster Insurance a Good Idea?

A2B Solutions

Thousands of people are left homeless, each year, due to natural disasters, such as floods or storms. For example, in 2005, hurricane Katrina caused extraordinary damage of about $130 billion. The most recent event, Hurricane Dorian (2019), affected Florida, Georgia, South & North Carolina, causing tens of thousands of coastal US residents to be evacuated inland.

Earthquakes are not as common, luckily, but we must not ignore them either.

If you are not sure whether it is actually worth to pay for a disaster insurance policy, make sure to get as much information as you can on the local climate. This is quite important to do, even if you lived in the area for a long time, because global warming is not a myth, and severe weather phenomena can hit pretty much everywhere. Respected A2B Solutions tell us that by recognizing how and when past local disasters occurred, is the best indicator of whether you can expect disaster to strike again, and influence your decision to purchase disaster insurance.

If you do not insure your home, you do not benefit, in case of one of the natural disasters defined by law, from any compensation for damages, which means that you will pay out of pocket for repairs and restoration works.

Before purchasing a disaster insurance policy, you should know that there are cases in which you may lose the right to get compensation, for example, if you make changes to your home without authorization, or if you completely change the destination of your insured home.

The post Is Having Disaster Insurance a Good Idea? appeared first on A2B Solutions Inc..



source https://www.a2bsolutionsinc.com/is-having-disaster-insurance-a-good-idea/

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