Disaster Mitigation Buying Insurance

At a glance..

Even with adequate time to prepare for a disaster, you still may suffer significant, unavoidable damage to property. That's when insurance for renters or homeowners can be a big help. Yet, many people affected by recent disasters have been underinsured - or worse - not insured at all. Make sure the insurance you buy protects against the perils you face.

The details..

Disasters can strike at any time, causing significant damage to your property. This book offers advice on how to protect yourself financially by purchasing adequate insurance coverage. It emphasizes the importance of being prepared for unforeseen events that may cause unavoidable harm despite taking all necessary precautions.

For homeowners, this book recommends full replacement or guaranteed replacement cost coverage policies that reflect the real value of their properties. It also advises them to update their policies regularly and conduct a home inventory check periodically. For renters, it suggests buying renter's insurance as landlords' policies do not cover tenants' personal belongings in case of loss or damage.

The author stresses the need for clear understanding about what is covered under an insurance policy and how deductibles work before making a purchase decision. They suggest shopping around different companies offering similar products and comparing prices while keeping in mind potential discounts available if multiple policies are purchased from one company.

Furthermore, readers are encouraged to consider special coverage options such as flood or earthquake insurances depending upon where they live and other factors like working from home etc., which might require additional protection beyond standard plans.