What is Disaster Insurance?
- Details
- Category: Finance & Insurance
- Published on Wednesday, 20 May 2009 21:08
Disaster insurance is a type of property insurance. Disaster cover will cover you from natural and man-made damage to your property. Disaster cover can cover a home or business... You may need insurance.
{module 104}Earthquake Insurance
Earthquake insurance is a form of property insurance that pays the policyholder in the event of an earthquake that causes damage to the property. Most ordinary homeowners insurance policies do not cover earthquake loss.
Important Information About Insurance
Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for a premium. An insurer is a company selling the insurance. The insurance rate is a factor used to determine the amount, called the premium, to be charged for a certain amount of insurance coverage. Risk management, the practice of appraising and controlling risk, has evolved as a discrete field of study and practice.
Natural disasters, especially earthquakes, can cause severe damage to real property. In California, earthquakes of small and/or large magnitude happen almost every year. If your home is located in California, it is worth insuring against quakes.
