The Inside Story About Volcano Risks and Insurance

When lava began to flow from Kalapana volcano in Hawaii, there were 35 buildings, many of which were houses and stood on the face of related damage. This article deals with insurance issues. Although not exhaustive, standard insurance can cover some form of loss.

Homeowner insurance: Are policyholders financially protected from volcanic overflows and related disasters?

Auto insurance: Are insured drivers protected from monetary losses from volcanic or earthquake eruptions?

For Hawaiian people who suffered from volcanic eruptions, standard homeowners and / or car insurance cover certain aspects, but not all, because there is damage that is excluded from coverage.

Below are the related coverage and lack of coverage.

• Homeowner policy protects against property damage from volcanic emissions resulting from eruptions, incoming shock waves, ash, dust, and lava flows. It also covers fire and explosion damage caused by volcanic eruptions.

• Comprehensive car insurance covers car damage from direct and sudden volcanic eruptions.

• Damage due to car accidents during or after volcanic eruption is covered by car insurance.

• Standard homeowner insurance does not protect against earthquakes, tremors, landslides, landslides, and other loss of ground motion.

• Typical home insurance does not protect policyholders from flood damage. Only flood insurance does that.

• Expenses related to prevention of pre-occurrence volcanic eruption damage will not be refunded by homeowners. coverage.

• There is a time limit on household or automotive coverage covering volcanic ash or ash related losses.

For all exclusions included in the standard scope, you can ask: Why did those suffering from Hawaiian volcanic eruptions not have special volcano insurance?

The answer is stunning and quite simple.

The insurance industry does not offer the extent of damage caused by volcanoes!

For those who live in areas at risk, the safest way is to add an all-risk plan to the standard housing policy to ensure monetary protection. As an alternative, the disadvantage is that it is difficult to find such compensation with very expensive premium price tags.

The above details are too complex to be included in this essay. As always, the best resource is to contact an experienced and knowledgeable independent insurance agent on this topic. The priority is to educate and educate customers.