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 The Inside Story About Volcano Risks and Insurance <br/>-2

When lava began flowing from the Kalapana Volcano in Hawaii, there were 35 buildings - that took the brunt of related damage. This article will deal with the insurance matters. While not all inclusive, standard insurance can cover some form of the loss.

Homeowners Insurance: Are policyholders financially protected from volcanic overflows and related disasters?

Auto Insurance: Are insured drivers shielded from the monetary losses of a volcano or earthquake eruption?

For those in Hawaii that suffered from the volcanic eruption, a standard homeowners and / or auto insurance policy covers specific aspects, but not all as there are damages that are excluded in the coverage.

The following lists associated coverage and lack of coverage.

It also will cover cover damage from fault shock waves, ash, dust, and lava flow. It also will cover cover damages from fire or explosion that is triggered from a volcanic eruption.

• Comprehensive auto insurance coverage will cover auto damages suffered from direct and sudden volcanic eruptions.

• Damages from car accidents that occur during a volcano & # 39; s eruption or following it are covered under your auto policy.

• Standard homeowners insurance will not protect you from earthquake, tremor, landslide, mudslide and other earth movement losses.

Only flood insurance will do that.

• The costs associated to preventing volcanic eruption damage prior to occurrence are not reimbursed by general homeowners & # 39; coverage.

• There is a time limit to coverage for home or auto coverage that covers losses related to volcanic dust or ashes.

With all the exceptions involved in standard coverage, you may ask: why did not those suffering from the volcanic eruption in Hawaii have specialized volcano insurance?

The answer is fairly simple, as it is eye-opening.

The insurance industry does not provide Volcanic Damage Coverage!

But it is an alternative, the downside is that such indemnity is hard to find with a premium price tag that is extremely expensive.

As always, the best resource is communicating to experienced, highly knowledgeable independent insurance agency about the topic - one that makes it a priority to enlighten customers and make them educated clients.




 The Inside Story About Volcano Risks and Insurance <br/>-2


 The Inside Story About Volcano Risks and Insurance <br/>-2

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