Getting Prepared In Case Of Earthquake With Property Insurance In North Olmsted

Ohio isn’t a state that normally jumps to mind when people think of earthquakes, but the fact is that more than 200 earthquakes have been recorded there since 1776. In 2012 alone, five earthquakes were recorded and in 2011, fourteen earthquakes were recorded!

There are two thing people can do to protect their lives and their properties from the threat of an earthquake. They can purchase property insurance in North Olmsted if they don’t already have it and they can sign up for a disaster preparedness course where they will learn how to prepare for and act during disaster situations like earthquakes, floods, fire, etc...

Signing up for preparedness training courses

Many people don’t sign up for preparedness courses because they  think that such courses are pointless. Nobody ever thinks that an earthquake will occur in their area. The unfortunate fact is that they can and do occur, and often in areas where you wouldn’t expect. Since nobody knows exactly when or where an earthquake will strike, it is better to be prepared just in case.

During these courses attendees learn about:

• What their priorities are in case of danger
• What are the safest places in a house and where to seek shelter during an earthquake
• What to do immediately after the earthquake
• What are the most dangerous places to be during an earthquake (like a building’s staircase)
• How to keep a clear mind and evaluate the events realistically
• And so on

These are all on-the-spot reactions and judgments. After the immediate danger is gone, however, there are other things that need to be seen to, like the well-being of family members, taking care of the injured and evaluating any property damage.

For those who don’t have home insurance in North Olmsted, perhaps one of the most painful revelations they will have after a catastrophic event, aside from any injuries, is learning that they cannot afford to rebuild or repair their property because of a lack of financial resources.

Purchasing property insurance

If you own property, then having adequate property insurance is a must.  Here are some things to keep in mind when you start shopping for the best property or home insurance coverage:

Decide how much coverage you need. The better your coverage, the less you will have to pay out of your own pocket if disaster strikes. In some cases, your lender may decide how much coverage you need. Keep in mind that the amount of coverage you buy for your house, contents and personal property will affect the price you pay.

Compare deductibles. The deductible is the amount you have to pay out of pocket when you file an insurance claim and applies only to coverage on your house and personal property. Be sure to choose a home insurance policy with a deductible that you will be comfortable paying. The amount of the deductible has a direct effect on the cost of the policy. The higher the deductible, the lower the cost of the insurance policy.

Replacement Cost or Actual Cash Value? You have the option to choose to insure your home and property for either replacement cost or actual cash value. Replacement cost is the amount it would take to replace or rebuild your home or repair damages – without deducting depreciation. It is important to insure your home for at least 80 percent of its replacement value. Actual cash value is the amount it would take to repair or replace damage to your home after depreciation.

Shop around before you buy. While you are required to have home insurance, you are not required to purchase insurance from the company recommended by your lender. Use online quote comparison tools and talk with several different insurance agents to get a range of options and prices to choose from.

Ask your agent about discounts. In some states, insurers offer discounts for things like multi-policy (having more than one type of insurace with the same company), installing deadbolt locks or alarm systems or replacing the roof. They are not obligated to tell you about these discounts, though, so be sure to ask!

Read your policy carefully. Your home insurance policy is a legal contract. It is written so that your rights and responsibilities as well as those of the insurance company are clearly stated. Read over your policy and make sure that you understand it. Keep your policy in a safe place and make sure that you know the name of your insurer.