Hello again Walter Greer from G & G with another insurance educational moment.
- Let us discuss Peril (Danger) - Fire, wind, hail, lighting-Tree falling on the home( I will discuss this one more in detail can be both perilous and hazardous), etc.
- Peril are dangers that occur to your home that are not in your control - hail, wind, lighting we call acts of nature (God).
- Hazards are things that can cause potential danger. Examples would be no rails for stairs, loose tiles on the floor, or a deck with loose boards or worn wood beams
Failure to update or complete any repairs may be very costly to the homeowner down the road. I believe the most well-known hazard each Thanksgiving for homeowners and insurance carriers has been deep frying turkeys. Insurance carriers send out numerous notices along with local fire departments every year reminding homeowners of this danger(peril)/hazard. Remember a hazard increases the peril-danger of occurring. Frying the turkey is the hazard and fire is the peril.
So all you homeowners, and condo owners out there -Please review your current policies and see what they cover each carrier differs so it is important to understand your policy. As you can see in the link regarding decks they can be very deadly and very costly to you as the homeowner.