Home Insurance. Thursday , March 01st , 2018 - 10:53:25 AM
Given the number of uninsured and underinsured homeowners during the 2017 natural disasters, there seems to be a disconnect between homeowners understanding their coverage and what their policy actually covers.
News headlines in 2017 were dominated for weeks at a time with coverage of natural disasters striking parts of the United States — from Hurricane Harvey flooding homes in Houston, to Hurricane Irma destroying houses in Florida, to wildfires decimating swaths of homes in California. All told, the costs of these incidents are likely to make 2017 the costliest year on record for natural disasters.
Some insurers might not include wildfires as a “covered peril” in areas that are prone to repeated wildfires. If you live in a state where wildfires are more common, your homeowners premium will most likely reflect that increased risk.
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