Protect Your Corporate Housing Investment
It seems like these days there’s always something going on with the weather and earthquakes. These are natural disasters that can either destroy or damage our properties. Each year tornadoes and floods alone cause multi-billions of dollars in damage and destruction. There you have hurricanes (like Irene that left a path of destruction right up the USA’s east coast) and earthquakes. (Also wild fires, mud slides, high winds, hail, snow storms, etc.) No matter where you may live, the chances of something happening are always present.
Most people with a home mortgage are forced to also carry homeowners insurance. If you are lucky enough to have your home paid for, you too should have insurance in case something were to happen to it. But is homeowners insurance enough to cover all natural disasters? What about corporate housing?
The bad thing is that “just” homeowners insurance policies will not cover most natural disasters. Many won’t find this out until it’s too late. Ask the survivors of hurricane Katrina in the south back in 2005. They discovered that even though “damage from hurricanes” were covered, “flooding” was not, even though it was caused by the hurricane.
You need to check on additions to your homeowners insurance to include things like flood insurance, earthquake insurance. And if you live in an area where you don’t think it will happen, just ask people on the USA east coast if they ever thought their homes would be flooded. Or ask people in Colorado if they ever thought they would have an earthquake. Inquire about these natural disaster add-ons to your homeowners policy to protect your property investments.