The rise in severe weather events across the U.S. has made natural disasters a growing concern for homeowners. At Cornerstone Insurance Agency LLC, we help our clients understand how these events can impact on their premiums and what steps to take to protect their property. Check out our guide below!
Questions? Reach out to one of our knowledgeable insurance agents. We’re eager to set you up with the right coverage and rate!
How Disasters Influence Premiums
- Increased Risk = Increased Costs If your area has seen more wildfires, hurricanes, or floods, your home may be reclassified into a higher risk category, even if your property was not directly affected.
- More Claims in Your Region Insurers spread risk across geographic areas. A spike in claims from neighbors could affect your premium.
- Higher Rebuilding Costs After a disaster, building materials and labor demand surge. Insurance companies adjust premiums to reflect these increased costs.
What You Can Do
- Review Your Coverage Limits Make sure your policy reflects accurate rebuilding costs, not just your home’s market value.
- Get Additional Coverage if Needed Standard homeowners’ insurance usually does NOT cover floods or earthquakes. You may need separate policies for these risks.
- Protect Your Property Install storm shutters, update your roof, or improve drainage. These upgrades can lower your premium and protect your home.
Stay Prepared
Natural disasters are unpredictable, but your insurance coverage doesn’t have to be. Let Cornerstone Insurance Agency help you assess your risk and ensure you’re ready for whatever comes your way.
This article is for informational purposes only. You should not act based on this information without first consulting with your insurance agent; if you would like a quote from a Cornerstone Insurance Agency licensed agent, contact us. We disclaim all liability for actions taken or not taken by you based on the contents of this article which is provided “as is.” Cornerstone makes no representation that this content is error-free.