Catastrophe Insurance
Just as the name mentions, catastrophe insurance plans are designed to provide an emergency safety net. If you are ever in a situation where medical bills are pelted your way from an accident or natural disaster, catastrophe insurance can help cover the costs.
What Does a “Catastrophe” Constitute?
A catastrophe is defined by the Insurance Information Institute as an irregularly severe, natural or man-made disaster. Some disasters may be included in homeowners, renters, or auto policies, otherwise they are covered by catastrophe insurance which includes:
- Hurricanes/tropical storms
- Hailstorms
- Tornadoes
- Floods
- Tsunamis
- Volcanic Eruptions
- Forest/Wildfires
- Earthquakes
If you are wondering if a catastrophe plan may be right for you, ask yourself these questions:
- Do I reside in a high-risk disaster area?
- Do I live near fault lines?
- Do I live close to coastal regions that receive frequent flooding or tsunamis?
In any of these unforeseen circumstances, catastrophic insurance can provide you the financial security you need in the event of an emergency.
Things to Keep in Mind About Catastrophic Insurance
- Can offer affordable monthly payments
- Typically have a high annual deductible
- Limit your medical expenses in the event of an emergency
- May not always provide coverage for preventive care
If you have ever been exposed and suffered from a natural disaster such as a hurricane, forest fire, flood, or earthquake, you may think about catastrophe insurance to sufficiently secure you financially.
Deciding on if you are a candidate for receiving catastrophe insurance can be something to thoroughly discuss with an agent at Credo 1 Solutions. We can help you go over disaster coverage available in your area and to make the best and most beneficial choice for you and your family.
For more information on Credo 1 Solutions’ catastrophe insurance coverage, call (703) 803-8191 to speak to an insurance agent today.