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Planning for the Unthinkable - Natural Disasters

Destructive events can make us reconsider our home, auto, and life insurance coverage, and also think about preparing for a disaster.
Stay informed to save you time, money and headaches
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Stay informed to save you time, money and headaches
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Stay informed to save you time, money and headaches
With headlines monthly about hurricanes and deadly fires, it's a fitting time to ensure that insurance policies fit the kind of extensive coverage a disaster requires, and think about what your family can do to prepare.
Consider the Real Costs of a Disaster
Few people consider the full scope of costs that could occur if their home or vehicle is wholly destroyed or substantially damaged. While smaller claims are much more common, large claims do happen and, as recent news indicates, most often cover fire and lightning damage.

The financial burden of a temporary home or vehicle can be significant, especially if, as is the case in wildfire events, an entire community is impacted, and the local construction capacity cannot accommodate all the rebuilding at once. Insurance should cover not only reconstruction or replacement costs but also the loss of use. Similar policies can protect auto owners, and a disaster that impacts your home could likely also take out your car, requiring a temporary replacement. These sorts of costs are covered with a comprehensive loss of use coverage, which is essential for weathering a disaster.

Have a Plan
Knowing your risks and being prepared for a disaster can make the difference between life and death, and also ease recovery if your property is destroyed. Know where all your home, auto, and life insurance and other relevant documents are, and keep them accessible. If you're in the path of an imminent natural disaster, have a plan to get to safety. Know a place you can go, whether it's a friend's home or a hotel. Make sure that your chosen spot can accommodate pets, and plan to bring the provisions your pets will need to be comfortable. If you do have to leave your home, take video documentation of what you're leaving behind, and make sure to keep all the receipts of your temporary expenses organized.