Do You need Insurance for Extreme Weather Damage?

There is a general consensus that extreme weather patterns are increasing. The right insurance policies can help you protect your assets from weather-related damages. However, not everyone needs flood, earthquake, or tornado coverage. Use these tips to decide if you need extra protection.
Assess the Risk Where You Live
Weather-related risks vary depending on where you live and work. Take time to research historical trends in your area when shopping for insurance coverage. You may not expect that 100-year storm to hit in your lifetime, but you do want to be aware of what type of damage it will likely cause and plan accordingly.
Check Legal Requirements
Even if you are comfortable with the level of risk in your area, some localities, homeowner associations, or mortgage companies will require supplemental insurance coverage. That’s why it is a good idea to research what coverage you are legally obligated to purchase.
Review Existing Coverage
Many homeowners assume their current policy will cover damages from extreme weather. However, that is often not the case. If you find yourself under-insured, it pays to find out how to buy flood insurance through private insurers since federal coverage is often insufficient for today’s massive storms.
The right insurance policy will help you be prepared to repair or rebuild after an extreme weather event. Be sure to assess your risks, research legal requirements, and review your current policy to ensure you are protected.