If a natural disaster detroys your home, fully. You will obviously need to move out. Your home insurance may provide coverage for the cost of living in a motel or rental home during this period. Hopefully the natural disaster you are referring of is one that is covered by homeowners insurance, such as a fire. The home insurer will also assist you in rebuiliding your home with the coverage offered.
Please note that there are several types of natural disasters that are not covered by home insurance. These include but are not limited to Earthquake and Flood. Each of these have their own insurance policies that you should consider.
Your future rates are likely to go up after the claim is fully paid out.
I hope this information helps you.
WalletHub Answers is a free service that helps consumers access financial information. Information on WalletHub Answers is provided “as is” and should not be considered financial, legal or investment advice. WalletHub is not a financial advisor, law firm, “lawyer referral service,” or a substitute for a financial advisor, attorney, or law firm. You may want to hire a professional before making any decision. WalletHub does not endorse any particular contributors and cannot guarantee the quality or reliability of any information posted. The helpfulness of a financial advisor's answer is not indicative of future advisor performance.
WalletHub members have a wealth of knowledge to share, and we encourage everyone to do so while respecting our content guidelines. Please keep in mind that editorial and user-generated content on this page is not reviewed or otherwise endorsed by any financial institution. In addition, it is not a financial institution’s responsibility to ensure all posts and questions are answered.
Ad Disclosure: Certain offers that appear on this site originate from paying advertisers, and this will be noted on an offer’s details page using the designation "Sponsored", where applicable. Advertising may impact how and where products appear on this site (including, for example, the order in which they appear). At WalletHub we try to present a wide array of offers, but our offers do not represent all financial services companies or products.