An Act of Nature – Falling Trees

Be Aware of Falling TreesOne of the common hazard could be faced being an home owner is falling trees, specially during ice or snow storms. Natural calamities such as fires, lightning, windstorms, and even insect corroding causes the branches or trees to fall on your home resulting in property damage. You need to be careful and watch out for trees with trunk hollows or cracks, limbs of trees hanging around, dead trees or with mushrooms on tree bark have high chances of falling and causing extensive damage to your property.

Falling  trees – What’s Covered?

Working of your insurance coverages under such scenarios:

  • You can file a claim on your home insurance policy, if yard or a tree even if rooted in your neighbor’s house fell over damaging your home and other
  • As any home insurance policy covers detached structures such as garage, they are covered when any damage occurs due to tree fall.
  • Please note that, tree rooted in your home if falls on your neighbor’s roof, then he should claim under his own insurance policy and you are not liable for it.
  • Comprehensive coverage pays when your car is damaged due to a tree fall, natural disasters, theft, vandalism or collision with animals.
  • Your deductible can be reimbursed If your neighbor’s tree caused damage and he goes after his insurer.
  • The standard insurance policy replaces shrubs and trees damaged by vandalism, fire, lightning and other perils, but not wind or water.
  • A tree rooted by you falls and does not damage any structures or house but blocks the road or ramp, insurance might pay to help in removing it. Not all insurance companies pay you to have the tree removed unless specified in your policy.

Price versus Coverage — A Balancing Act

A Balance NeededWhen it comes to purchasing auto or home insurance, you want enough coverage so that your out-of-pocket expenses will be very low or, even non-existent, but you don’t want to sacrifice on the coverage and quality of your insurance. Finding a balance between reasonable insurance premiums and sufficient coverage can be hard, but it isn’t impossible.

Here are a few tips for keeping your insurance issues in balance:

1. Compare, compare, compare.

Even if you’ve had insurance with the same company for years, it still doesn’t hurt to compare rates every once in a while. If you find a lower rate that offers the same coverage you currently have or want to have, let your present insurance company know. The agent may be able to get you that price, or at least closer to it, so that you won’t be tempted to change companies.

2. Find out exactly how much insurance you need.

This can be especially beneficial when it comes to auto insurance. If you have a car that has been paid off, is a fairly old model, and has high mileage, you may be able to get by with just liability insurance. If you can do this, you can save quite a bit of money by switching your policy from full coverage to liability only. Remember, though, that liability only insurance does not pay for repairs or replacement to your car, nor does it pay for medical expenses should you be injured.

The same may hold true for homeowners insurance, if your home is paid for. However, keep in mind that homeowners insurance coverage is usually enough to replace your home should it be completely destroyed, and usually provides coverage for medical expenses should someone be injured while they are in your home.