MarketWatch: Home insurance usually covers damage from a volcano or wildfire, but not a flood


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UPDATED: 2018-09-21T14:22:17.881Z
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Clearsurance in the news: MarketWatch

In the wake of the devastating flooding caused by Hurricane Florence in the Carolinas, MarketWatch reporter Jacob Passy interviewed Clearsurance CEO and co-founder, Michael Crowe, regarding homeowners insurance coverage and natural disasters. Unlike some other natural disasters, such as wildfires or volcanic eruptions, flooding typically isn't covered by a standard homeowners insurance policy.

Below is an excerpt from the MarketWatch article:

Buying additional insurance policies for disasters like floods and earthquakes might seem like a no-brainer, but it’s an expensive proposition. “They have to do a cost benefit analysis,” said Michael Crowe, co-founder and CEO of Clearsurance, a site where consumers can review and compare insurance companies.

The average annual premium for a policy through the National Flood Insurance Program was $878 as of April 2017. But flood insurance premiums can easily cost thousands of dollars in regions that are determined to be at the highest risk of flooding.

Read on to learn more...

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