Most people are willing to take their chances when buying a home in a natural disaster zone. For example, people move to California because of the sun and the ocean, not really believing that a big earthquake is going to hit. New Orleans has been a destination for many celebrity and average person alike until Hurricane Katrina swept in and decimated neighborhoods and towns. Natural disasters do hit and if you're a homeowner or a homebuyer it's crucial to make sure you are aware of the risks and prepared for them.
Natural disasters include flooding, mudslides, earthquakes, hurricanes, tornadoes, ice storms and more. These natural acts are also sometimes referred to as 'acts of God' in some insurance policies. In the past insurance policies generally did not cover 'acts of God,' meaning that if your home was destroyed by a natural disaster the homeowner had to bear the cost of repairing or rebuilding their home. Many people simply can't afford the expense. As times have changed, so have some insurance policies, covering some natural disasters but not others.
If you own a home, it's crucial to review your homeowner's insurance policy to make sure you are covered. If not, there are sometimes 'riders' or additional insurance you can purchase to cover costs due to storms, quakes and more. If you are looking to buy a home, considering what types of natural disasters commonly affect an area should be part of the consideration before purchasing. Can you get insurance to cover major natural disaster damage? If not, can you purchase a rider? What would it mean to you if your house were lost to a natural disaster?
Another element to consider when purchasing a home for the first time is whether or not the property is structurally sound for the weather patterns of the area. For example, in California, water heaters must be strapped down, foundations should be bolted in, otherwise they can move and shift. There are preventative measures that can be taken to help prevent property loss in the event of a catastrophe. Nothing is a guarantee, but homeowners often find they save thousands of dollars in repair work by making sure their home is as ready as can be for a disaster. Home inspectors are crucial in helping determine whether or not homes are structurally sound - cracks in foundations can lead to huge expenses in jarring quakes, or weakened foundations can crumble in the case of a flood or tsunami. For homeowners, having a home inspector review your property every 3-5 years is a sound investment to assess wear and tear on things like roofs, foundations, exterior structures and more.
On a personal level, there are a few things homeowners should be aware of. Always have a plan in case of a natural disaster. Be familiar with the risks of your area. Do you have a basement in case of a tornado? Is the property two stories in case of flooding? Do you know where the gas valve is to turn it off so gas leaks don't happen? How about the water main? Do you know where your breakers are to turn power back on? Each family should also have a safety kit in case of power outages with canned or dry foods, water, matches, candles for warmth and light, battery operated radio and a first aid kit. This should be stored somewhere that everyone can reach. Be sure everyone in the family knows where it is.
The more prepared homeowners and homebuyers are the safer you are and the safer your investment, or home, is going to be. Remember, insurance, home inspections and safety preparedness are your best bets for a safe and sound home.
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