Financial survival after a disaster

"Homeowners and business owners absolutely must plan ahead for the risk to their financial survival after the Big One hits. We have learned from numerous experiences throughout the country that in the event of major disasters, you are much more likely to lose all of your assets and/or go bankrupt because of the incident than be injured or perish during it." - How to survive 'the Big One' financially

In the blog quoted above, Joe Garcia, president of Garcia Insurance Inc., points out that only 12% of California homeowners have earthquake coverage for their home. He states,

"You may think you are covered under your general homeowners or business policy, but in California, earthquake coverage must be a separate policy with a separate premium." ...

"Don't expect the Federal Emergency Management Agency [FEMA] to write you a big check after “the Big One.”

Bottom Line
Just like earthquake coverage in CA, nationally few people have flood insurance and no one is covered unless they buy it separately. You may think you could NEVER be flooded but just how far away is the nearest river and how many feet are you above it? Is there a dam that could burst? Could heavy rains and leaf clogged sewers turn your neighborhood into a lake?

Talk to your neighbors and your insurance agent to find out if you are at risk for earthquakes, flooding, or other natural disasters not covered by your homeowner's policy.