If you’ve chosen to rent, rather than buy, know that one of the wisest decisions you can make is to invest in renters insurance. However, a recent Nationwide Insurance survey found that most renters aren’t protected from financial loss since they have not purchased renters insurance. If you’re confused about renters insurance, here’s a Q & A addressing some of the most frequently asked questions about the coverage.
You don’t have to live near a canyon or forest for your property to be threatened by wildfire. Nearly 1/3 of U.S. homes are in wildfire-prone areas, according to the Insurance Institute for Business and Home Safety (IBHS).
The impact of a wildfire can be tragic and expensive. For instance, the U.S. Forest Service and U.S. Department of the Interior spend a staggering $3.5 billion a year combating the fires.
Key to lessening the damage to homes and businesses is knowledge and preparation.
While many people think tornadoes impact only the Midwest, every state in the country is vulnerable to tornadoes, according to NOAA. Approximately 1,200 tornadoes hit the U.S. each year, causing an average of $24,000 in home damage and $4,000 in auto damage. Our claims department reviewed data related to tornadoes from 2008 and 2012 and found that other than a direct hit, the majority of tornado damage to homes and cars occurs from falling tree debris or fallen trees.
Since this week is National Severe Weather Preparedness Week, it’s the perfect time to learn about the ways you can prep your car and home.