Thursday, July 17, 2014

Tornado Watch: Is there coverage for my home in the event of tornado?

With all the recent storms and bad weather.  Now more than ever New Yorkers are worried about a tornado.  Several clients called to ask in the event of a tornado would there be coverage on my homeowner policy. 

Tornado is really wind, and wind is typically a covered peril on homeowner policies.  With that being said, every policy has terms and conditions you should be aware of and you should really review your policy to be sure.  If you own a building that is vacant or tenant occupied there is a greater chance that wind is not covered.  Again review your policy or give us a call and we can help you determine whether or not coverage would be available in the event of a windstorm or tornado.

Earthquake coverage typically needs to be added by endorsement and a small charge may apply.  Review your policy or contact us to inquire about earthquake coverage. And Flood Insurance is almost always excluded.

Even though there are no Volcano's in Central New York - volcanic action is typically a covered peril and property policies, along with fire, lightening, hail, explosion, riot or civil commotion, sinkhole collapse and limited glass breakage.  

I also have read lately about Malaysian Airlines in the news quite a bit rest assured if a stray aircraft or any vehicle should hit your home - coverage is most likely afforded to you.  

The coverage I mentioned above are considered "Basic" coverage. Typically homeowner policies are written for and insured against much broader perils to include things like the freezing and accidental bursting of pipes, falling objects, weight of snow and ice, collapse of building, and accidental discharge from plumbing. and damage to electrical appliance.

I found this video from the Insurance Information Institute that shows you in a very clear concise manner some basic info that you should know about your insurance policy. What is insurance and how it works.

Watch and learn about liability, additional living expenses and other coverage in your insurance policy. And discover that protecting your family's home and belongings with a policy that balances your needs and budget doesn't have to be a chore.  

Watch the video and then contact us if you need help figuring out what is or is not covered.  Ask for a FREE REVIEW of your insurance.  Even if you are not our client we are still here to help!



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