Insurance coverage, home inventory are keys to financial preparedness in face of disaster

Blog Post created by michelesteinberg Employee on Sep 26, 2016

Are you covered in case of disaster? Having a homeowner’s insurance policy won’t prevent a wildfire, earthquake or hurricane from damaging or destroying your property, but it can be the key to long-term recovery from a major loss. Having insurance is important, but, as I’ve written for Fire Break before, you’ve also got to have enough insurance, and you’ve got to know what’s covered.


As September and Preparedness Month enter their final week, this is a great time for everyone to make that all-important call to their insurance agent and review what’s covered in their homeowner’s or renter’s policy. The majority of Americans with insurance simply do not have adequate insurance to help them recover from a significant loss. In a recent Firewise Virtual Workshop featuring consumer advocate Carole Walker of the Rocky Mountain Insurance Information Association (RMIIA), she emphasizes that an annual insurance checkup can help you ensure you have the coverage you need, within the limits you can afford.


Should the worst happen, it also pays to “know your stuff.” The Insurance Information Institute has a great Know Your Stuff home inventory app that makes it easy for you to catalog the value of your belongings. Author, researcher, and wildfire survivor Linda Masterson is one of the most prepared people I have met, but even she says she wishes she had known more and done more about a home inventory before she lost her home and most of her possessions to a wildfire.


Learn more about what you can do to be financially prepared by watching our virtual workshops featuring Carole Walker and Linda Masterson, checking out www.knowyourstuff.org, and reviewing great materials from FEMA and Ready.gov.