This guide entitled “Homeowners and Renters Insurance: What You Need to Know Before and After a Natural Disaster” was created by Consumer Action’s Insurance Education Project (December 3, 2020) and is meant to explain which disaster losses are—and are not—covered under a standard homeowners or renters insurance policy, how to make sure you are adequately insured, what steps to take to recover your losses after disaster strikes, and what your options are if your insurance falls short.
According to Consumer Action, about two-thirds of U.S. residents live in areas where there is a moderate to very high risk of a natural disaster. While insuring your home and belongings won’t help you avoid disaster, it will help you recover from it. With the majority of U.S. residents living in areas at risk of a natural disaster, most households need to seriously consider how they would recover from the loss of their home and possessions. Here is what homeowners and renters need to know.
