Risk, peril and hazard are all terms used in homeowners insurance. Catastrophe insurance is a type of homeowners coverage that can help you with emergency medical costs resulting from a named peril. For more information on catastrophe insurance, here are the basics:
In most homeowners insurance policies, only specific hazards will be covered and may vary by policy or insurer. Catastrophe insurance is an optional addition, or rider, you can include in a homeowners policy to help cover health costs related to a disaster.
Homeowners insurance protects your personal property against damage. It can also financially protect you and your household from unforeseen injuries caused by your own residence. However, only catastrophic insurance riders will provide broad coverage for emergency medical expenses.
It's crucial to know which hazards are included in your particular policy, and also the limits of your health insurance coverage. Injuries sustained in a natural disaster can make a difficult situation even worse. The more you can do to protect yourself and your finances, the better.
Maurice F. Reidy & Co., Real Estate, Worcester's Oldest Real Estate Brokerage Company, Now In Our 114th Year.
Maurice F. Reidy & Co. offers clients and customers in the central Massachusetts markets a real estate advisor and brokerage that provides expertise in sales, leasing, and consulting services for all types of property. Joe Reidy, Realtor Emeritus is the owner/broker of the firm.