ST. CROIX INSIGHTS

One natural disaster after another – insurance matters

BY BRETT ANDERSON/ST.CROIX ADVISORS, LLC

Nowadays, it seems impossible to turn on the TV or radio (or read a newspaper) without hearing about a disaster. From fires to flooding, so many people’s lives are being turned upside down. I can’t even imagine what they are going through, and I can only suspect it’s going to take years to recover emotionally and even financially.

I know you’d rather make a trip to the dentist than revisit your property and casualty insurance (better known as home owners’ insurance) agent. In these cases, it’s more than talking to your P & C professional. It’s a line by line conversation about your coverage and how much will your insurance pay for.

In the event your home is destroyed by water or fire, how large of a check do you want the insurance company to write you? I believe most individuals get upset with insurance companies due to a lack of understanding of their coverage and unrealistic expectations.

Recently, we had a new gas stove placed in our home. When the appliance company connected the gas line to the stove, they cross threaded the line. Better yet (sarcasm), the gas wasn’t even on when they tested the line. Long story short, the next day I turned the gas on to the stove and the house filled with natural gas. Kaboom! God was looking out for my family that day, because our house should have blown up.

Bad things happen. When they do, it’s best to make sure you have the right coverage in place well before the fire, flood or house explosion happens. If you need a referral to a property/casualty insurance professional, let me know.

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