It’s easy to confuse hazard insurance and homeowners’ insurance. Despite its name, hazard is not an entirely separate policy, it’s a component of a homeowner’s policy. It’s the part that will take care of replacing the structure and contents of a home should a natural disaster occur.
The remainder of the homeowners’ insurance will protect you from theft, damages, or loss that may occur. Insurance for homeowners also takes care of medical costs should a person sustain an injury in your home, as well as legal expenses if they decide to pursue legal action as a result of the injuries sustained.
All insurance companies have their list of what they consider approved natural disasters. These generally tend to be things like tornadoes, hurricanes, and other extreme weather events. When your house or personal possessions are destroyed by a natural disaster, you make a regular insurance claim and you will receive reimbursement for the repairs. Without the hazard coverage in the homeowners’ policy, it will be up to you to pay the cost of rebuilding the entire house if, for example, a freak windstorm or fire caused it to fall down. You will also have to take care of appliance, plumbing, flooring, and roof replacement.
This information is provided by Miami insurance lawyer Alonso & Perez, LLP. Our areas of practice include bankruptcy, insurance litigation, foreclosure defense, immigration law, and more. Call 305-676-7545 to speak with a Miami insurance claims lawyer and receive a free consultation. We look forward to working with you. This information is provided for educational or informational purposes only and should not be construed as legal advice. The information is not provided in the course of an attorney-client relationship and is not intended to substitute for legal advice.