Much of North America experiences periods of severely cold weather and is susceptible to snow and ice storms—extreme conditions that can inflict considerable damage on homes and create liability risks. Standard homeowners policies will cover most disasters that result from a freeze—but coverage often depends on whether the home’s heating was properly maintained. Here’s how to minimize potential risks.

Lightning can cause damage to your home and belongings—and can cause bodily harm. It's prudent to take steps to prevent the dangerous effects of lightning and to keep yourself and your family safe. Here are some things you can do.

If your home was destroyed by a hurricane, wildfire or other disaster, be cautious.

Unfortunately, there are dishonest service providers that prey on disaster victims. They know that people who have lost their homes and valuables may not be thinking clearly. If you have suffered this type of loss, don’t make any rash decisions. Talk to your insurance agent, who may recommend service providers in your area.

Here are some basic guidelines for hiring service providers.

A public adjuster is an independent insurance professional that a policyholder may hire to help settle an insurance claim on his or her behalf.

Your insurance company provides an adjuster at no charge to you, while a public adjuster has no relationship with your insurance company, and charges a fee of up to 15 percent of the insurance settlement for his or her services. Note that while a public adjuster can assist with the claims process, he or she cannot get you more money than you are entitled to under your insurance policy.

The settlement amount depends on which type of policy you have. Having inadequate insurance can affect the amount of compensation you get.

Replacement Cost and Actual Cash Value

Replacement cost provides you with the dollar amount needed to replace a damaged item with one of similar kind and quality without deducting for depreciation—the decrease in value due to age, obsolescence, wear and tear and other factors. An actual cash value policy pays you the amount needed to replace the item minus depreciation.

After a disaster, you want to get back to normal as soon as possible, and your insurance company wants that too! You may get multiple checks from your insurer as you make temporary repairs, permanent repairs and replace damaged belongings. Here's what you need to know about claims payments.

If disaster strikes, you'll want enough homeowners insurance to rebuild the structure of your home, to help replace your belongings, to defray costs if you're unable to live in your home and to protect your financial assets in the event of liability to others. Use these guidelines to help determine the coverage and amounts you need.

There are four events that should trigger a review of your policy:

1. When your policy comes up for renewal

Don’t just automatically send a check to your insurance company. Take the time to review your coverage and call your agent with any questions or concerns that you may have regarding your homeowners insurance. Ask yourself the following questions:

If you live in a home that is considered "high-risk" or plan to move to a high-risk location, you may have difficulty obtaining an insurance policy.

What constitutes high-risk? 

Credit scores are based on an analysis of an individual’s credit history. These scores are used for many purposes such as securing a loan, finding a place to live, getting a telephone and buying insurance. Insurers often generate a numerical ranking based on a person’s credit history, known as an “insurance score,” when underwriting and setting the rates for insurance policies. Actuarial studies show that how a person manages his or her financial affairs, which is what an insurance score indicates, is a good predictor of insurance claims.