How to Protect Your Property Investments From Natural Disasters

How To Protect Your Property Investments From Natural Disasters

Whether you live in your house or have rented out a property, it’s the responsibility of the owner to protect the property from wear over time, damage, and natural disasters. Such damage might result in decreased property value if effective protective strategies are not being practiced. In this article, we will share with you the top ways you can protect your property from any natural calamity. Without further ado, let’s begin.

Construction Area

The area or place you are planning to build your property should be safe. There are many regions where flooding, bushfires, or hurricanes are frequent occurrences. Constructing a home in areas like these will not only make your investment insecure but will also lower your property’s value significantly. Always do extensive and proper research on the area you plan on constructing in, to ensure your safety and security down the line. 

Procuring Insurance

It is one of the most essential steps in protecting your property from natural disasters. Securing an insurance policy will aid you in conducting repairs in case a disaster strikes. Most insurance policies protect against basic disasters like a windstorm, hail, or extreme wind. You might have to buy additional coverage so you can cover disasters like an earthquake, volcano eruptions, and flooding. 

Researching the weather patterns and the natural disasters that are commonplace in that region can assist greatly in deciding on an insurance policy. Furthermore, don’t forget to consider each option, read the terms, and compare the service charges to make the right choice. Real estate brokers suggest keeping a record of the property’s condition and including evidence in the form of video or pictures. Maintaining a record benefits you in securing an insurance claim and even acts as evidence if the insurance company is being reluctant in paying for the necessary repairs. 

However, if you have rented out a property, it might be necessary for the tenants to get insurance protection for themselves, otherwise, it could lead to problems for both parties. Property owners can include terms like obtaining a renter’s insurance policy which can assist the tenant in securing temporary housing during home repairs.

Finding The Right Contractors

If you are planning on building a house from scratch or renovating an existing structure, finding reputable and trustworthy contractors is necessary to ensure building safety and quality. Establishing contact with a reputable contractor saves you the time you’d otherwise spend searching for them when a natural disaster does strike. There are a lot of contractors offering their services in areas where there are high chances of a disaster. They also specialize in managing repairs and most likely address the root cause. For example, a flooded area triggers the growth of mold and results in various diseases which can be avoided by engaging the services of professionals to prevent water damage. 

It is essential to find the right contractor as landing an agreement with not so reputable contractors can result in further property damage. These contractors will either accept to work at a low service fee or never complete their work despite being paid for the repairs. You can search online, ask friends for recommendations, and then choose one to get the best outcomes. 

Securing a Home Warranty

It can become overwhelming when you have to replace your faulty home appliances on top of home repairs. A home warranty is a type of insurance that can aid in the repair or replacement of home appliances after a disaster strikes. Almost every company offers home warranties to cover appliance repairs or replacements, but comparing service charges and covered appliances is necessary when it comes to selecting the best one for you. Before signing any contract, remember to ask about coverage in the case of any natural disaster-related damage.

Safety Features

Natural disasters are unpredictable and can appear out of nowhere. Adding safety features to assist the occupants in safely evacuating the building is the right move. You should plan out an emergency exit route beforehand and perform practice drills to ensure you are following the right steps. Installing smoke detectors, fire extinguishers, and related safety tools can prove to be resourceful during a disaster. 

Revamping The Property

Besides doing repairs, it is essential to tweak up the indoor space according to the type of natural disaster. Here are some tips on how to keep your property safe during different natural disasters.

  • A windstorm can cause damage to the roof. Under circumstances like these, it is a good idea to conduct a roof inspection and perform the necessary repairs. Roofing experts suggest applying reinforcements in case the intensity of the disaster increases. Installing storm-resistant shingles, making a roof slope, and applying water-resistant covering on the top roof layer are some additional ways to cope with the disaster’s effects. 
  • In flooded areas, installing water detectors is a great way to discover leaks or water accumulation. Smart water detectors can even alert you on your phone or ring an alarm to notify you of the problem. 
  • Buildings in earthquake-prone areas already have reinforced foundations to protect the construction from collapsing or sustaining significant damage. Cripple walls are placed between the floor and the foundations of the property to provide additional stability. Most contractors offer a retrofit plan, but you should only go with the ones that are offered by a licensed and experienced contractor. 
  • Wildfires are difficult to contain and need special arrangements to prevent their spread, especially in a home. Remove any debris like dry leaves, shrubs, or dead plants around your house. Check the gutters to ensure they are clean as well. Making defensible safe zones are also essential in keeping wildfires away from the property. Furthermore, ensure that there is no flammable or combustible material surrounding your home as it can further exacerbate the fire. 

Being prepared for the worst is the best way to move forward as it will ensure your property will get the right protection and repair services if an unfortunate disaster hits the area. Protecting the property against unexpected disasters is not easy. Still, following the above-mentioned tips and planning in advance saves time, effort, and money that you would otherwise have to pay out of pocket for repairs.

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