DISASTER INSURANCE
In 2017, three major hurricanes affected the U.S. — Harvey, in Texas; Irma, in Florida; and Maria in Puerto Rico. Recently, we’ve seen the devastation of Hurricane Michael, and it’s only a matter of time before certain areas are battered by another such disaster. In the aftermath of these storms, many of the victims discovered that they were either underinsured or simply didn't have the proper insurance coverage — and would soon be facing enormous out-of-pocket reconstruction costs. This was a very loud wake-up call.
We see it all the time. Every year, many people are driven to financial ruin because they incorrectly assumed that the insurance they had would adequately cover the damages caused by a natural or man-made disaster. To their shock and horror, people often don’t find out that they're underinsured, or completely uninsured, until it’s too late. Although many have insurance, the coverage limits are sometimes insufficient, or they simply lack the appropriate type of coverage. Some people also forget that not all disasters are natural; man-made ones can be just as devastating, sometimes even more so.
In this article, we take a summary look at some of the types of insurance available to protect you and your family, and we also explore some of the
