Homeowner’s insurance policies have an exclusion clause for damages caused by “acts of God”. An act of God is something outside the control of man, such as a flood, earthquake, hurricane or other natural event. Typically, insurance policies do not cover any damage caused by these natural happenings.
Is your insurance policy protecting your home as well as you think?
Arizona attracts thousands of new homeowners to the state each year due to our beautiful weather. We aren’t on a coast so we don’t have hurricanes; we aren’t in the Midwest so there are no tornados, so we are sitting “pretty” out here in the middle of the desert.
However, we do have floods during the summer monsoon season, our rainy season. And on a rare occasion, in the winter, we have been known to have a hail storm.
So it’s a good idea to check your home insurance policy coverage to see where there might be a lapse. While there has been a movement away from these exclusions by insurers, your best bet is to know beforehand what will, or will not, be covered.
Living in the Valley of the Sun, you will want to ask your agent if you have coverage for damage caused from:
- high winds
- hail storms
- ice storms
- flooding
- lightning strikes
Ask your agent if your policy covers lightning strikes directly to your residence.
Did you know? For a small premium you may be able to acquire additional coverage for electrical outages in the neighborhood that affect your personal dwelling. Let’s say you headed up north for a long week-end and came back to find your power out from a blown neighborhood transformer resulting in complete spoilage in your refrigerator and freezer. If you are covered, just put a call into your agent.
Most standard home insurance policies do not cover flooding. What’s in your policy? Some subdivisions in Scottsdale (including DC Ranch) have been built in the 100-year flood plain. When you purchased your property this was disclosed to you so check your records and determine whether or not a flood insurance rider would be worth the cost to purchase. (If you have a mortgage, a flood insurance policy was required by your lender at the time of purchase.)
If your insurer excludes flooding coverage and you live in a high-risk area you may be able to purchase flood insurance from the U.S. government through the National Flood Insurance Program.
If you have a guest house on your property, check with your insurance agent to be sure you don’t need separate policy for this separate structure.
Think you know your policy coverage? Review the fine print or make a call to your agent to discuss it.
Looking for DC Ranch homes for sale? Contact me at 480-360-0281 or fill out the contact form below to get your search started.
Don Matheson
Realtor | Founder
The Matheson Team – RE/MAX Fine Properties
21000 N. Pima Rd., #100, Scottsdale, AZ 85255
480-360-0281
don@scottsdalerealestate.com
