Lessons from the California Fire

California is being hit by one of the worst natural disasters in US history. What can we learn from this tragic event about how to protect ourselves?
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Stay informed to save you time, money and headaches
Facing Our Worst Fears
California is currently under siege by one of the worst forest fires in American history. An entire town has been destroyed, billions of dollars in infrastructure have turned to dust, and what's worse, hundreds have lost their lives already.

It can be challenging to face just the idea of a threat like this when it comes to planning for the future. We all like to imagine that our futures will be relatively uneventful. But the truth is, disasters in all forms can hit you, your home, your vehicles, and your family when you least expect it.

That's why it's more important than ever to ensure that you have adequate coverage in the event of the catastrophe. Whether it be a massive crisis like the fire in California or just a small local storm, we need to be ready.

Like a Golden Shield
We often think of insurance as a sort of boogie man. It's a creature that eats up our income and gives us seemingly nothing in return. The truth is, only the luckiest of us will ever truly experience insurance in this way. That being, something that does nothing for us.

But for those of us who live in the real world, insurance can be the difference between an out-of-control fire destroying everything you own and leaving you destitute, and having you and your family be survivors that have a real chance of completely rebuilding their lives when tragedy strikes.
Get Adequate Coverage
It's not enough to just have basic coverage. In the event of a crisis, it's vital for you and your family to know that you have enough coverage, as well as the right coverage.
One example is that many homeowners insurance plans do not cover floods. So if you live in an area with any degree of chance for flooding to occur, you'll need to ensure that you have secured adequate flood insurance.

If you have a unique situation, you may need specialized insurance. For example, if you are someone who works with a lot of data or runs a business that relies on it, you could significantly benefit from what's known as cyber insurance. Cyber insurance can help recoup losses due to damaged hard drives or other similar electronic losses.

Another growing type of insurance is pet insurance. If you are a pet lover (particularly if you own multiple animals that are of a highly sought after or rare breed), it could make a lot of sense to ensure your pets so that if they need urgent medical care or boarding, those expenses can be covered.
Technology by Your Side
The good news is that the world of insurance is a lot different now as opposed to 10 or 20 years ago. The Internet and information technology has opened up the blinds and helps to dismantle the asymmetry of information that insurers used to rely on to extract maximum profits.

As major catastrophes like the one in California strike, more and more companies are looking to offer alternatives to the established status quo. For instance, low cost online only insurance providers like lemonade are beginning to pose a severe threat to insurance providers that refuse to keep up with the times.

In closing, it's essential to remain vigilant, and not to scrimp when it comes to keeping yourself, your family, and your belongings protected in the event of an emergency. Insurance premiums can feel like a waste of money sometimes, but in some cases, paying premiums for 10 years and only needing to make one claim can more than justify the expense in many cases.

Lastly, with technology on our side, companies are now finally starting to be more competitive, and that means consumers everywhere will benefit from better service, better coverage, and increasingly favorable pricing.
It's time to re-evaluate if you have adequate auto, home, and life insurance. To learn more, follow Bitclave at or subscribe to our informative and insightful blog posts.