A number of disasters are covered by your homeowners insurance in Renton, WA. However, every policy has its limits. Most standard homeowners insurance policies exclude flood and earthquake damage because they are considered mass-destruction events. If you live in a flood zone or an area prone to earthquakes, you will need to purchase separate flood insurance or earthquake insurance.
What disasters are covered by home insurance?
Although individual policies will vary, a standard home insurance policy covers a range of potential hazards and disasters, including:
- Windstorms and hail
- Smoke damage
- Damage caused by aircraft or vehicles
Standard policies do not cover flood damage, earthquakes, sewer backups, or wear and tear.
How does flood insurance work?
Most flood insurance is administered under the Federal Emergency Management Agency (FEMA). Homeowners and renters are able to purchase flood insurance policies through insurers to cover their home and belongings from flood ruin. A policy covers direct physical loss from floods and from flood-related erosion caused by flash floods, severe storms, abnormal tide surges, or similar situations resulting in flooding.
What does FEMA flood insurance cover?
Flood insurance offers two types of coverage, including:
Building Property Coverage
With the maximum coverage limit of $250,000, it covers:
- Debris removal
- Home and its foundation
- Permanently installed panels, cabinets, shelves, and bookcases
- Home essentials like air conditioning, fuel tanks, water heaters, plumbing, and furnaces
- Detached garages (10% of coverage can be used for this)
- Built-in home appliances like a dryer, refrigerator, washing machine, microwave oven, and dishwasher
- Permanently installed carpet on the unfinished floor or window fixtures like curtains and blinds
Personal Content Coverage
With the maximum coverage limit of $100,000, it covers the stuff inside your home, including:
- Portable AC units, refrigerators, ovens, and other appliances
- Some expensive valuables like jewelry, furs, and arts
- Personal belongings like furniture, clothing, electronics, and kitchen utensils
- Spoiled food
- Carpet that is not installed on the unfinished floor
Who needs Earthquake Insurance?
Since homeowners and renters insurance policies will not cover earthquake damage, an earthquake insurance policy should be considered. If you live near a fault line or an area with seismic activity as a result of drilling, then you could benefit from earthquake insurance. Vehicles tend to be covered for earthquake damage under your comprehensive auto insurance policy.
What does Earthquake Insurance cover?
A standard CA earthquake insurance policy covers:
Home’s Rebuild Cost
It covers damage to walkways, driveways, and land that restricts you from accessing your home.
It covers valuables like jewelry, furs, electronics, and collectibles.
Additional Living Expenses
It covers additional living expenses when your home is being repaired. If you rent your home to others and it is damaged, your lost rental income is also covered.
Earthquake insurance also covers:
- Land repair for supporting or stabilizing your home
- Emergency repairs to protect your home from residual earthquake damages and tremors
- Building code upgrades
- Energy efficiency and safety replacement upgrades to a damaged home