The majority of homeowners policies do not include protection for this type of disaster.
The already devastating recent news for homeowners who have suffered tremendous losses – or even who have lost everything – in the deadly Washington disaster, could become much worse as most likely do not have mudslide insurance coverage to protect them.
The Snohomish County community will likely discover that this bad news is only going to get worse.
Unfortunately, mudslide insurance is not included in standard homeowners and business policies. Additional coverage above and beyond the typical policy is usually needed for damages that occur as a result of movements of the earth, such as earthquakes, landslides, rockslides, mud flows, and other similar events. Heartbreakingly, the majority of people – including most in Snohomish County, Washington – assume that they do have coverage against this type of catastrophe. In most cases, it takes the disaster, itself, to reveal that they are not protected after all.
Mudslide insurance can be vital to many home and business owners through the Northwest.
Landslides and mud flows are perils that do occur throughout that part of the country. While many happen in uninhabited regions, this most recent – which has killed at least 14 people – is a reminder that they can strike populated areas, as well.
If one could say that anything good could come from such an unimaginable tragedy, then it would be that it could serve as a reminder to others that they should look at their own homeowners insurance policy and business coverage in order to see what type of protection they have against various natural disasters.
If a property is located on steep ground or is positioned somewhat near to a cliff, then added coverage above and beyond the standard homeowners or business policy could be a worthwhile investment. It may not be cheap, but the home is typically the largest and most valuable asset in a person’s life, and the added coverage could make the difference between the financial ability to recover, or a total devastating loss of everything a person owns.
While federal disaster aid can provide some assistance, this is not the same as mudslide insurance payouts. Often, disaster aid comes in the form of a low interest loan, not simply a handout of cash for rebuilding costs.