Will Your Insurance Cover Your Stuff?

If you’re like many people who watched as devastating floods, fires and hurricanes ravaged whole towns and all of Puerto Rico, you can’t help wondering what type of home owners’ insurance company can withstand the impact of so many claims at once.   But in America,  there is a complex system in place with the National Insurance Flood Program at the center.  This is the agency you get flood insurance through for your mortgage if you live near water.  How the claims are paid out is best discussed on an individual basis.  But while you’re thinking about it, you should consult your insurance agent.  You’ll want to have an overhaul of your policy done to make sure your coverage is up to date.  Homeowners who lose their homes and livelihoods in disasters can wait years to recover, and many times that’s after a long and arduous fight.   They expect to be made whole based on the premiums they’ve paid for years and are stunned and angered when the reality is quite different.  Many don’t receive a fourth of what the policy was worth.

Losing everything suddenly can be tough, especially if it happens as we head into colder weather and the holiday buying season.  That’s the exact reason people are turning to the money saving power of Groupon to purchase items for themselves and for others in need.  Many people come away from a disaster feeling so thankful for what they do have, they don’t feel more than a tinge of regret now and then for what they’ve lost.  Over and over on the news, you hear people refer to burned out belongings as “just stuff.”  Still, that stuff is what makes us different and reflects our tastes and personalities.  It reminds us of good times during our childhood, or helps add value to the homes we treasure.  These are the types of things one can purchase with a Groupon promo code for the Lakeside Collection.  And if there was ever a time to replace lost mementos and keepsakes, using a code now would be it.

2017 will go down as one of the worst years for natural disasters such as floods, wind driven rain, hurricanes, mudslides, earthquakes and fires.  This year saw unprecedented rain drench the Houston, Texas area and fires ravage whole towns in California.  The estimates of the damage done by fires in California, hurricanes in Puerto Rico and other locales will top $1 billion per occurrence in damages in the U.S. and could tie 2011 as one of the costliest years on record.  If you think there’s a chance you could be among that number next year, talk to your insurance agent today.