Demolition Insurance
Categories: Insurance
Hurricanes and forest fires that can devastate cities usually leave debris and uninhabitable structures in their wake. Property insurance policies may include a demolition insurance clause, which covers demolishment and debris removal of structures that have suffered irreparable damage via natural disasters or other perils, like flood or fire.
As the degree of coverage, if any, varies widely, it is crucial to review a policy to see if demolition insurance is included. If it's not, not only do you suffer the burden of rebuilding, but you also have to pay someone to clear away all the crap you were storing in the basement for a decade that's now officially ruined.