Are You Prepared For A Disaster?

By May 21, 2008 personal

With just over one week to go before the start of the 2008 hurricane season, and with tornadoes and wildfires inflicting
damage across the U.S., the news that nearly half of U.S. consumers are insufficiently prepared – in terms of their insurance coverage – to deal with potential losses is a concern.
The survey by the National Association of Insurance Commissioners (NAIC) found that the majority of consumers do not have the coverage necessary to protect themselves from specific types of losses that are not reimbursed under standard insurance policies. For example, 69 percent do not have earthquake insurance and 65 percent do not have flood insurance.
The NAIC also found that nearly half (48 percent) said they did not have an inventory of their possessions. Of those consumers with a checklist, 32 percent had not taken any pictures and 58 percent had no receipts validating the cost of their possessions. In addition, 44 percent acknowledged that they had not stored their inventory in a remote location. I.I.I.’s free home inventory software can help residents better protect their property ahead of disaster.
Click here for the I.I.I.’s free home inventory software:
Claire Wilkinson, Insurance Information Institute: May 14, 2008