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Homeowner’s Insurance: Are You Covered From Fire and Flood Risks?
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On this week’s episode of THE FINANCIAL COMMUTE, host Chris Galeski welcomes Justin Pizzola, co-CEO of Greyhawk Insurance, to discuss homeowner’s insurance coverage.
Here are the key takeaways covered in their conversation
- Flood insurance can be very complex, as internal water damage is generally covered but external water intrusion is not typically covered without specific insurance.
- While insurance typically covers accidental water discharge, it does not cover wear or tear or aging infrastructure.
- They also discuss fire insurance, as the impact of fires in California has led to higher premiums and stricter underwriting, forcing some insurers to exit the California market.
- It is very important to understand your homeowner’s policy thoroughly to ensure you are protected in unpredictable situations.
- Justin discusses Greyhawk's role in developing innovative insurance programs by partnering with risk retention groups, reinsurance companies, and carriers to address market gaps and offer solutions. Visit www.greyhawkinsurance.com to learn more.
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