19 Oct CREPN #114 – Insurance Coverage Moratoriums
Insurance Coverage Moratoriums happen daily during late summer and early fall across the US. If there is a natural disaster in action, the insurance companies will close the casino and refuse to take any new bets. [x_audio_embed][/x_audio_embed] 2017 has been particularly significant. Think about it. There have been:
- Hurricanes in the Gulf of Mexico and the Atlantic Ocean
- Wildfires in the West from hot, dry summer
- And Earthquakes don’t care what the season is.
How can you avoid moratoriums?Don’t wait to purchase your coverage. Purchase your coverage before disaster is eminent, and be prepared. For Hurricanes you can safeguard your property and make certain you have insurance. Flood falls into two categories.
- In low lying areas that are expected to flood, you will be required to purchase flood insurance if you are borrowing from a lender.
- If your area is not recognized as a potential flood area, most property owners elect to go without. However, if your property is unlikely to suffer damage from a flood, your coverage will cost significantly less.