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 Posted: Wed Feb 11, 2009 4:15 pm Post subject: School Project |
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Ok guys I am your average 7th grader and I need help.
I am doing a project and I NEED t know if living in a volcanic zone will affect how much you pay for insurance.
PLEASE HELP ME GET AN A+ ON MY REPORT!!!!!!!!!!!!!!!!!!!!!!! 
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Anony mouse
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| Posted: Wed Feb 11, 2009 11:37 pm Post subject: |
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Yes, I would think it would, if it's an active volcano, any time the risk is greater (on any insurance policy) the premium will be greater. How much greater I couldn't tell ya'...I've got an idea for you though...why don't you get an online quote from a carrier with a location of a home near a volcano, then one across the state (maybe, or close) that is not near one...and see what the difference is....be sure you are requesting the same limits etc...but again as I said, higher the risk higher the premium....Another thing to check is the Dept of Ins website for states that are near volcanos, like Hawaii maybe?
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Lori
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| Posted: Thu Feb 12, 2009 6:21 am Post subject: |
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| Quote: | | I am doing a project and I NEED t know if living in a volcanic zone will affect how much you pay for insurance. |
I'd say that it ought to....home insurers have different rates for different regions & a specific peril would affect the rate of the homeowner insurance of the area.
Homeowners living in the flood or earthquake prone areas are charged higher rates than homeowners of non-flood or earthquake prone areas. However, the cost of the coverage might differ from one insurer to the other. |
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simon
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| Posted: Fri Feb 13, 2009 12:53 pm Post subject: |
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Well, that's certainly interesting..if it's a dormant volcano would that lower the rates than a flood-prone zone!
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anonymous00
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| Posted: Fri Feb 13, 2009 3:01 pm Post subject: |
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| Heres is anotrher idea that plays off of Lori's. Who does your mom and dad have insurance through? Maybe they would be willing to help you get this information. Since they would work in the home insurance field they may have access to a greater varierty of information. I hope you get that A!!! |
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fireyone
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| Posted: Sun Mar 29, 2009 2:10 pm Post subject: |
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i should think that the policy rates would definitely be higher if they're living near active volcanoes, especially acidic volano which are generally more violent in eruptions. i'm not sure about this though i know that people living in earthquake-prone zones are usually charged higher rates. you could visit several insurance websites to try and obtain some quotes from them. or like what fireyone had suggested, you could gather the help of your parents, or call up the company on your own and try to get the information. since these are experts on the field, they should be able to provide with more help.
good luck on getting that A grade! |
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seven7
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| Posted: Mon Mar 30, 2009 11:40 am Post subject: |
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| Quote: | | Another thing to check is the Dept of Ins website for states that are near volcanos, like Hawaii maybe? |
If you're not willing to check out the different competitors since you're just working upon a school project, then this one seems to be one good option for you. It's quite true that your rates would be much higher in comparison to those who're away from an earthquake-prone zone. But premiums do vary due to certain other factors e.g. the condition of your house, your capacity to bear a higher deductible etc.
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anonymous00
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