With the series of natural disasters in recent weeks,this is an opportune time to revisit a few items that were or should have been noted at the time you purchased insurance coverage. The hurricanes in Texas and Florida, wildfires in the northwest and earthquakes in Italy and Mexico are a stark reminder that #InsuranceMatters. Unfortunately for many when that day arrives tens of thousands are unprepared and uninsured.

What many do not know (or simply forgot) is that earthquake and flood insurance (and in some states wind) coverage are not part of a standard homeowners insurance/property insurance policy. These special perils require the owner to buy additional coverage for these otherwise excluded losses, sometimes at quite a high cost or premium. Add to that once a fire is raging or that hurricane is brewing in the Atlantic Ocean it is likely too late to purchase this coverage. You wouldn’t expect to buy life insurance after you are diagnosed with a terminal disease and in the same way you cannot buy catastrophe insurance once the threat is eminent. There is a standard (30) thirty day waiting period for hurricane coverage and when wildfires break out companies announce “moratoriums” disallowing agents from issuing policies until the threat has passed.

Insurance really does matter and makes a difference, but we as consumers need to be proactive and responsible in putting plans together prior to the need for coverage. Consult your local independent insurance agent and if you don’t have one give our team a call!