Bruce Rabik On What To Know About Your Home Insurance When It Comes to Natural Disasters

The past couple of years have seen a rise in insurance claims due to natural disasters occurring across North America. Now more than ever it’s important for homeowners to understand exactly what ‘is’ and ‘isn’t’ covered under their insurance policies, and if a natural disaster occurs, what steps to take.

The COO of Acera Insurance, Bruce Rabik, has dedicated his career to improving and expanding insurance across Canada. With the recent devastation of the wildfires in Jasper, Alberta, many residents have lost their homes and businesses. Naturally, this has created an uptick in home insurance claims. With over 35 years of experience, Rabik is passionate about helping communities who are dealing with the aftermath of major natural disasters.

In most cases, insurance providers will cover weather-based incidents. These usually include lightning, hail, wind, and forest fires. “For folks who live in high-risk locations for floods or earthquakes, they can add an endorsement to their policy,” Rabik shares. “By doing this, not only do they get peace of mind, but if one of these incidents occurs they will be covered”.

To get the most out of your money when it comes to coverage, there are some factors that providers consider when setting your annual cost. The biggest factor is your home’s location. They will consider how far away your home is from emergency services, as well as how close you are to major risks such as large bodies of water. Another factor to consider is the age and condition of your home. This helps determine how likely it would be for your home to get damaged.

“A great way to lower your annual premiums is to install safety features if you don’t already have them. Things like security systems, backup valves or smoke detectors,” says Rabik. The length of your insurance term, as well as the history of your claims, also determines the cost of your policy.

If a natural disaster does affect your home – what should you do? One of the first steps you should take is contacting your insurance provider to begin a claims process. During the process, you may need to take photos and videos to help create an inventory of lost or damaged items. Depending on your policy you may also have coverage for alternative lodging while you’re displaced.

If dealing with a community-wide natural disaster, it is important to keep up to date with sources that provide disaster assistance such as local radio and television. A huge advocate for community engagement, Rabik affirms that “there are some great community groups online that we try to support. People are sharing advice and their experiences on social media and forums which can really help others.” Rabik and his team at Acera work hard to stay engaged in the community, so when a disaster strikes people have the knowledge and resources to get back up on their feet as quickly as possible.

Even though natural disasters are out of our control, taking the steps to properly insure your home will give you the tools you need. While we can’t predict the future, we can prepare ourselves in case a disaster does happen. And if it does, know your insurance provider and community are there to support you.