trying to determine issues with this type insurance
2006-10-15 11:25:08 · 7 answers · asked by Traveler 2 in Home & Garden ➔ Maintenance & Repairs
The bank. Instead of paying insurance every month, go to the bank and buy a certificate of deposit (CD). Not only will you gain interest, but in the event that nothing happens you can still cash in.
2006-10-15 11:28:40 · answer #1 · answered by peon 3 · 0⤊ 0⤋
No, because a tsunami is classified an Act of God and cannot be insured.
Some enterprising insurance company may provide it in a comprehensive type of coverage, and sell it to areas which will never get a tsunami geographically. It will look great on paper and suckers, oops I meant property owners will buy it.
2006-10-15 18:39:11 · answer #2 · answered by QuiteNewHere 7 · 0⤊ 0⤋
A tsunami is a tidal wave. This type of water damage (flood and surface water) is normally excluded by most standard homeowners policies in the U.S. We have to purchase flood insurance from the federal government in order to be covered for such a loss.
National Flood Insurance Program
http://www.fema.gov/business/nfip/
http://www.fema.gov/plan/prevent/floodplain/How_the_NFIP_works.shtm
2006-10-15 18:35:33 · answer #3 · answered by nobody 5 · 0⤊ 0⤋
Online
2006-10-15 18:27:45 · answer #4 · answered by lilmamathuggish18 1 · 0⤊ 0⤋
It should not need a seperate insurance for that..just regular flood insurance.
2006-10-15 18:32:57 · answer #5 · answered by Gretchen B 3 · 0⤊ 0⤋
Oh heaven, I am sure you'll pay more than the house is worth...
2006-10-15 18:32:19 · answer #6 · answered by Anonymous · 0⤊ 0⤋
http://goliath.ecnext.com/comsite5/bin/pdinventory.pl?pdlanding=1&referid=2750&item_id=0199-4322421
2006-10-15 18:27:26 · answer #7 · answered by Mommyk232 5 · 0⤊ 0⤋