MAIN Your Money Insurance Acts of God Insurance

Act of God - n. a natural disaster such as a tsunami, earthquake, volcanic eruption, wildfire, tornado or hurricane.

As if anyone needed a definition - following such catastrophic events such as the tsunami in South Asia, the hurricane hit U.S. Gulf states, or the devastating earthquake in Pakistan - an "act of God" is a disaster no one can prevent.

In the U.S., the recent suffering wrought by Hurricane Katrina has congressional leaders rethinking strategies for natural disaster insurance with an initiative for a public-private partnership to spread the risk on a national scale.

Currently, homeowners need a separate policy for the resulting fires that more often than not spring up as a result of the earthquake. If you purchase hurricane insurance, you better have a separate flood insurance policy to cover water damage.

In the U.S., FEMA may be available for a loan to help rebuild (that you must pay back) but only if the President formally declares the area a disaster.

And it's not just the U.S. — in many countries, home insurance is currently a mine field of fine print and exclusions when it comes to insuring against natural disasters.

On the Web, find out more about natural disaster insurance with tips and advice on exactly what's covered by separate policies, the likelihood of a natural disaster hitting your area, and approximately how much coverage you'll need...

Do you really need disaster insurance? - From MSN Money with a good discussion comparing the risks with the cost/benefit ratio of purchasing disaster insurance.

Natural Disasters - From State Farm Insurance with a complete consumer guide to insuring against earthquakes, floods, hail storms, hurricanes, tornadoes, wildfire and volcanoes, including preparations, reporting damage and filing claims.

Hurricane Insurance Information Center - Information central for facts, stats, information and advice on insuring against hurricanes, a list of insurance providers, preparedness tips, tips on filing claims, related links and resources.

Insure.com - Who Needs Flood Insurance? - Details about flood insurance coverage with links to more information on what's available, typical costs depending on location, related contact information, glossary, flood preparedness guide, FAQ.

Tornado Insurance: Putting a Price on Disaster - Archived CBC video presentation including tips, advice, and a Did You Know? feature on how to protect and prepare yourself financially for a tornado.

Earthquakes - Risks & Insurance Issues - Comprehensive overview of insurance available in the U.S., risks by location, typical costs and deductibles, recent news and legislation.

Also see -> Earthquake Insurance

Flood Insurance | Hurricane Insurance