Keeping Your Home Safe from Summertime Disasters

Summers in the United States can be brutal. Temperatures can shoot up and create havoc. Besides, hurricanes, floods, fires, and storms are some of the most common summertime disasters. They leave homeowners in a state of mental, physical, and financial anguish.

The 2022 heat wave troubled many Americans, and reports indicate that 7 out of 10 people were deeply concerned about such extreme weather conditions. The changing climate has extensively contributed to the high temperatures. Wildfires have also constantly been a major concern for locals. The country has seen some of the most disturbing fires, including those in Alaska in 2004, Arizona in 2013, and California in 2018, 2020, and 2021. According to a Statista report, fire (natural, accidental, and man-made) alone has resulted in a property loss of over $15,957 million.

Climate-related disasters have a black history, with 56 natural disasters striking the United States between 2019 and 2021, resulting in over $1 billion in losses. As we enter the supposedly hottest months of the year, it is critical to remain protected and insured to face the heat. Every citizen must be aware of the potential harm caused by weather and seasonal changes, as well as how this can be avoided.

Here are some insurance options to protect your home.

Homeowner’s Insurance

Any home insurance policy will provide basic coverage for fire, theft, vandalism, and other related damage. Homeowner’s insurance is, in fact, an excellent way to begin protecting your property from summertime or usual damage. It protects both the interior and exterior of the building — either redoing the entire property due to damage or replacing specific damaged parts/areas. This coverage comes in handy if a fire breaks out due to faulty wires/short circuits or in the event of wildfires. 

However, most people are unaware that their property valuation and existing insurance coverage can leave them underinsured. Favorably, risk assessment based on location and portfolio analysis of the homeowner provides a clear picture of the appropriate add-ons or supporting policies required to obtain full coverage in case of damage.

Flood and Windstorm Insurance

Flooding is a common natural disaster in the United States, with Texas, Louisiana, Florida, and Pennsylvania being the most affected states. A flood insurance policy can assist in paying for damage caused by water. This can include coverage for the entire property being demolished or damage repair for specific areas such as the fencing, roof, and so on. 

Floods and hurricanes/cyclones/tsunamis (windstorms) are completely different natural disasters, but floods are possible because of windstorms. However, when it comes to insurance, windstorm damage and flood damage coverage are two completely different concepts. If you live in a windstorm-prone area, it is a good idea to get both insurance policies because excessive rain and strong winds can cause water-related damage to your property if it is near a water source. 

The premium for such insurance policies is determined by the location of the property, the ease with which the property can be impacted by such disasters, and whether there have been any previous claims.

Catastrophe Insurance

If you do not want to buy separate policies for each disaster, a catastrophe insurance policy is a great alternative. A catastrophe insurance policy provides protection against flood, earthquake, tsunami, fire, terrorist attacks, and a variety of other disasters. This insurance policy may have limitations depending on how the policy is written and the portfolio analysis is performed. 

Because a catastrophe insurance policy covers a wide range of events, determining the extent of the damage and the premium amount can be difficult. On the plus side, it eliminates the need to purchase separate policies for each type of damage that may occur.

Umbrella Insurance

Umbrella insurance is an excellent way to compensate for any missed opportunities to claim damage that other policies do not cover. When a disaster strikes your home during the summer, the consequences of the damage may extend to your neighbors. For example, the neighbor’s property can be damaged due to faulty wiring or a short circuit from your end. 

Such incidents can be used to file a lawsuit seeking compensation for the harm done. To avoid this, homeowners typically choose an extended version of all their insurance coverage for added security, whether it is liability coverage or self-protection, in the form of umbrella insurance policy.

On top of that, homeowners can choose valuable property coverage. Any type of disaster can destroy, damage, or displace valuables. To replace these valuables or make claims for losses, valuable property coverage is an excellent choice.

How Can You Stay Safe This Summer?

Here is a quick checklist to follow:

  • Do not forget to reevaluate your property and current insurance claims for taking any type of add-ons or renewal. This would help avoid missing out on necessary coverage.
  • Keep an eye on the maintenance. Any exposed wiring or damaged areas must be secured before a disaster strikes.
  • Your home must be secured in every way possible to protect yourself from normal or less severe man-made or natural disasters.
  • If a storm warning is issued for your area, take the necessary precautions and relocate to a safer segment of your home.
  • If your property is in a high-risk disaster area, always keep the necessary supplies handy.

Having your property checked and evaluated before or during the summer can be an excellent way to stay insured and protected. At Gonzalez Insurance, we provide you with an effective portfolio analysis. After that, we recommend policies that are critical and unmissable for the protection of your home. Contact our experts to learn more.