National Insurance Awareness Day is observed each year on June 28. This day was created as a day to review your insurance coverage.
Insurance offers security, covering loved ones and recovering losses in the event of damage, illness or death. It offers protection but over time the value of our homes and the items in may appreciate. What was once worth $100,000.00 a decade ago may be worth much more today. Be sure your policies keep up with the values.
No matter where we live, it would be difficult to replace everything we own if disaster struck. From the first-time apartment to the 30-year mortgage, our possessions, property, loved ones and even those who visit deserve the protection the comes with a homeowners or renters policy.
The day is an excellent time to learn more about the types of policies that are available. Here are some things to consider:
- Get a free quote – this is a great way for renters or anyone considering a new policy to comparison shop
- Evaluate your current possessions
- How has your family changed? Has your family grown or have family members moved away? Do you have pets?
- Do you plan to buy a new home?
- Do you need flood insurance?
- Are there big changes ahead that will influence the amount of insurance you will need?
- June 28 is National Insurance Awareness Day, a perfect time to assess your risks and coverage.
On National Insurance Awareness Day, FEMA encourages all U.S. residents and businesses to check insurance policies, know your risk, and encourage friends and neighbors to consider protecting their home and property from flood risk. Flooding is the most common and most costly natural disasters in the United States and can hit almost anywhere. The National Flood Insurance Program (NFIP) is a vital resource for individuals, businesses, and communities to enable them to more fully recover from flooding.
- “Our work to close the insurance gap across all hazards is key to building a culture of preparedness,” said FEMA Deputy Administrator Daniel Kaniewski. “We know that those with insurance experience less disaster suffering than survivors who are uninsured, especially after catastrophic events.”
“Flood insurance is critical to a more resilient community,” said David Maurstad, Chief Executive of FEMA’s National Flood Insurance Program. “More than 20 percent of flood claims come from properties outside high-risk flood zones. Just one inch of water in a home can cost more than $25,000 in damage. More insured survivors, means a quicker path to recovery.”- Today, the NFIP manages flood risk for over 22,000 participating communities by providing insurance and protecting the natural and beneficial functions of floodplains through land use and development requirements. The program supports over 5 million flood insurance policies, insuring over $1.2 trillion in assets. Homeowners, renters and business owners with flood insurance can recover faster. Without flood insurance it may be too expensive to repair or rebuild. More insured survivors, means less disaster suffering. Unlike federal disaster aid, flood insurance pays policyholders even if there is no federal disaster declaration.
- Be Flood Smart
- · Know your risks, do you have an insurance gap?
- · Check your insurance policy, does it cover enough?
- · Have a disaster plan, make sure your loved ones and your documents are safe
For more information on NFIP, search if your home is in a flood zone, or flood and hurricane preparedness, please visit is available at www.floodsmart.gov, https://msc.fema.gov/portal and www.ready.gov. Or for more information on general flood insurance questions, contact the NFIP at 800-427-4661, or your local insurance agent.
