Does Homeowners Insurance Cover Natural Disaster Damages?

Regular homeowners insurance policies cover damage and loss from natural disasters. Aside from the coverages that come with your policy, endorsements and other insurance products can cover more perils that are not included by your standard policy.

Your house, as well as other structures in your property, are insured by dwelling coverage. Additionally, if your belongings have been included in the damages, personal property coverage can reimburse their cost or value. In case the damage to your home is so severe and you need to temporarily relocate, your additional living expenses coverage can pay for the expenses of your accommodations.

Damages and losses due to natural disasters can be covered by your homeowners insurance. It can pay for the expenses of repairs, rebuilding and reconstruction as well as reimburse you for your personal belongings.

Personal property coverage insures the things that you own in case of damage or loss. The natural disasters covered by homeowners insurance are hail, windstorms and volcanic eruptions, but these can vary depending on your insurer.

If you need more coverage for other natural disasters, endorsements and other insurance products can provide more protection. For instance, most insurers don’t cover floods and earthquakes. You can purchase flood insurance, earthquake insurance or have flood/earthquake coverage as an endorsement.

While your homeowners insurance can cover many of the expenses you might have after a natural disaster, there are specific items that they do not cover. Dwelling coverage, for instance, does not cover your detached garage, fence, above-ground swimming pool or tool sheds. There are also natural disasters that it does not cover, such as floods, earthquakes, sinkholes and mudslides.

Keep in mind that this coverage is also specific to the perils listed by your insurer.

Having your finances covered during emergencies is a good thing, but protecting yourself from disasters is way more important. Being prepared for natural calamities can prevent losses. Below are some steps that you can take to protect yourself during a natural disaster.

Homeowners insurance is available from most insurance companies, including State Farm and Hippo. Comparing different insurance companies will help you find the best policy for your needs.

On average, homeowners insurance costs $175 per month. However, the rates of homeowners insurance depend on how much coverage you need and how much personal property you own. MoneyGeek’s personal property calculator below can give you an estimate on the cost of your insurance.