Hazard Insurance: What Does It Cover?
Hazard Insurance is considered a form of homeowners’ insurance that will typically cover many different types of situations and may be covered by your existing homeowners’ policy.
How do I know if I need hazard insurance?
Homeowner's cover what is considered hazard insurance but alas, all insurance companies are different, so it’s best to ask your insurance agent what if any, your homeowners’ policy regarding hazard insurance.
Here are the most frequent types of incidents that may or may not be covered by homeowners’ insurance policies. Depending on your specific homeowners’ policy, you may be covered for all or only some of the following.
Falling objects or water damage from a household appliance or
Damage caused by the water heater, air conditioner or in-home sprinkler system.
Damage caused by burst frozen pipes and electrical surges.
Fire/Smoke, Lightning, Heavy Wind, Hail, Explosion, Damage caused by vehicles, Theft, Vandalism and Civil unrest or riot
Having the proper information is key when it comes to selecting a home or hazard insurance policy, and now that you know what to look for, here are some tips to remember.
Cover your personal belongings –
Insurance companies cover anywhere from 50-70% of the total cost of personal belongings. Again, make sure you ask your insurance agent for details of your hazard insurance policy including the amount covered in the event of a loss.
Take complete inventory –
Phones have come a long way and noW there’s no excuse why you can’t take photos of all of your valuables and submit them in the event of a claim.
Did you find this information helpful? FIC Insurance Agency offers a wide range of services such as homeowners insurance, auto insurance services, business insurance, as well as tips to help you get the most out of your next insurance policy or claim. We have been helping your neighbors over the past decade and look forward to working with you! Call 1-800-582-4342 or click hazard insurance quote to be directed to out contact form and one of our professional agents will help you through the insurance buying process and answer any other questions you may have.