Heavy rains lead to flooding but it can also cause landslides. When it comes to insurance, mudslides and landslides require different types of coverage. Every year many home owners discover that their homeowner’s insurance policies will not pay when their homes are damaged by common geological processes such as earthquakes, expansive soils, floods, hurricanes, landslides and subsidence.
Mudslides are covered by flood insurance which is available from FEMA’s National Flood Insurance Program (NFIP) and some private insurance companies. A landslide is considered an “earth movement” event so, like an earthquake, it is excluded from standard homeowners and business insurance policies.
Landslide Insurance can include damage form:
- Rain runoff
A good indicator of your need for landslide insurance is if your home is situated at a location with steep slopes. If this is the case than having landslide insurance might be your only chance of recovery against the uncertainty of damage or destruction as a result of a landslide. The deductible for landslide insurance policy works as percentage rather than a dollar amount. For example, rebuilding your home after a landslide you would be responsible for 5% of the insurance replacement cost of your home. This may vary from insurer to insurer.
When your home is damaged or destroyed, you need your claim settled by an insurance company that understands this simple fact. Safe Harbor Insurance can help you find the homeowner’s insurance that will best meet your needs and provide the most valuable combination of tailored coverage, quality service and fair pricing.