ACT OF GOD

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ACT OF GOD An act of God is an insurance term that describes a natural event or disaster where there is little the homeowner could have done to prevent the damage. Acts of God include earthquakes, hurricanes, tornadoes, and even severe storms. Fire can also be an Act of God if it starts from lightning strikes. Insurers do not sell specific policies called “Act of God insurance” but you may be able to add an act of god clause or expand coverage in your existing policies. Three elements can be considered when looking at act of God; -Where no blame can be assigned to a person. -That couldn't have realistically been prevented. -Brought about as a direct result of natural causes. Acts of God do not absolve people from a duty to exercise reasonable care. However, if it was not an act of nature and began from human activity, like faulty wiring, it’s not considered an Act of God. Keep reading for some examples of acts of God. It's important to note that how the event started is a key component when determining if you will have coverage. Examples of acts of God: Earthquakes Hail Floods Hurricanes Tornadoes Lightning Severe storms Tsunamis War Wild animal damage Wildfires Windstorms According to experts, the claims process under the Act of God situations is much easier than in health or life insurance policies as the document requirement is relaxed under such disasters. Policyholders only have to inform the insurer about the loss and the surveyor is deployed. Policyholders should review their policy for coverages and exclusions pertaining to acts of God. #benewinsurance #insurtech #inclusiveinsurance #insurance #reinsurance #takaful

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