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:
How catastrophe insurance works
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.
Know your insurance policy
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.
About the Author
Meg Johnston Burke
Meg & Loudoun County: Back in 1993, we moved here from Pennsylvania, thinking we'd stay for a year or two -- well clearly, Loudoun is "home" now! In the past, I was a broadcast advertising rep (Philly market) and an at-home mom, until 2000, when I jumped into the real estate business. Even with all the ups & downs, I've loved this business (& especially my clients) ever since!