In insurance, a peril is a listed eventuality that affects a structure such as fire, storm damage, flooding, and other threats. Listed perils fit into very narrow perimeters sometimes but are covered by insurance. Flooding, though, isn’t covered under a normal homeowner’s policy, but a policy can be obtained separately.
Insurance Source Solutions in Oklahoma might have certain conditions that should be met, such as written notice of a loss, evidence of the amount of the loss, cooperation in settling the loss, and fraud prevention just to name a few. What other perils are involved in flood insurance?
Do You Need All-Risk Or Named Perils Insurance?
If your home isn’t in a flood zone, susceptible to hurricane damage, or in an earthquake zone, then you have a couple of choices. Named perils insurance lists both perils that are covered by insurance as well as those not listed. This could be good for homeowners not living in a perilous area.
All-risk insurance would be good for those homeowners who want to be prepared should an errant earthquake rattle their cages or a hurricane suddenly turn inward and cross their path. It covers all perils except war, government seizure, and nuclear threats, among others.
For those homeowners wishing to have flood insurance when it isn’t included in their homeowners’ policy, a rider is available for added consideration.
Although planes, trains, and automobiles aren’t usually high on homeowners’ lists of things to insure against, they are listed as perils. Flood insurance does protect against the thawing of ice and snow and the damage caused by them, unexpected water events like burst pipes, and any other accidental event concerning water.
Oklahoma insurers such as Insurance Source Solutions are giving homeowners more and better options for insuring their structures. Not only that, but insurers will write you extra protection policies for whatever you need. Call us or pop into the office to learn more.