Weather insurance protects against sudden weather changes. The primary form of this type of insurance is “conditioned,” which means that the policy will only pay out if the conditions are actually present on the date that the policy was written. In other words, if the weather is at least seventy-five percent certain to continue for a day or more, or if the weather is at least ninety-five percent certain to continue for at least one day, then the policy will pay out. There are typically two additional insurable forms of weather insurance: hurricane insurance, which cover hurricane damage; and local hurricane insurance, which covers damage to properties in a designated area only.
There is also “special event” weather insurance. With special event weather insurance, a policyholder can purchase an event insurance policy that will cover him or her for any special events, such as weddings, debuts, concerts, etc. The cost of this type of weather insurance varies by state. In general, it’s harder to find special event coverage than it is to find regular weather insurance.
Another form of weather insurance is precipitation or rain specific insurance. With this type of policy, a policyholder can purchase a policy that will cover him or her for any pre-determined number of days when there is a chance that rain will fall within a certain area. Typically, if the rain doesn’t fall for a particular length of time, then the policy will pay out.
Usually, when people think of special event coverage, they think of rain, but it’s also possible to get this type of weather insurance for a number of other common weather conditions. For instance, a person could purchase a rain/snow coverage perils insurance policy if he or she needed coverage for a sports event being held on someone’s property. This will reimburse the insured for coverage for physical damages caused by rain or snow falling on his or her facility, as well as liability for legal costs, lost wages, and so on.
Most policies allow you to make the choice between rain or snow coverage options. If you live in an area where there is a high risk of inclement weather, or if you participate in outdoor activities, then you’ll probably want to consider this type of weather insurance. Basically, the idea is to protect you in case Mother Nature makes a bad day come about. In these cases, the policyholder will be responsible for paying expenses for repair or replacement of whatever was damaged. Policies like this typically have low deductibles and will require you to spend a small co-pay in order to be covered.
If you’re unsure whether you need this type of protection, then you should check with your current homeowner’s insurance company. Often, your existing coverage will let you know which weather risks you’re responsible for addressing on your own. For instance, if you live in a flood zone, your policy should include flood insurance coverage. Similarly, if your state has enacted some kind of weather safety initiative, such as the storm water freeze warning, you should probably add this type of protection to your homeowners policy. It’s important to note, though, that if you have a mortgage, your lender will likely require you to purchase storm water protection along with your homeowners policy, so be sure to get this covered when discussing weather insurance options with your lender.
A second kind of weather insurance policy is the precipitation patterns insurance policy. As the name implies, this coverage is designed to protect you in the event that Mother Nature is particularly cruel to your region. Basically, what happens here is that you’ll pay a certain amount for a premium that ensures your location is never left in the middle of a massive dust cloud or rainstorm. The premium you pay may increase in line with the risk of the particular weather patterns you’re interested in being subjected to. For instance, if you live in a part of the country that tends to have heavy rainfall on a regular basis, you’ll likely pay more than someone who lives in a place where the same weather conditions are less likely to occur.
The final kind of weather insurance discussed here is the risk associated with pollutants. This kind of coverage involves assessing the degree of damage that can be caused by exposure to a particular group of harmful pollutants. In many cases, these policies will also include protection against fires, as they tend to go hand in hand with pollutants. However, in the past, pollutants tended to be viewed as a far more minor problem compared to fire outbreaks. Today, however, because more fire experts view them as being a significant health risk, it’s wise to purchase comprehensive coverage so you’re assured of receiving the help you need in case of an emergency.
