Paying more than just attention

Our recent conversations with wildfire evacuees and people who’ve just lost everything inspired us to restate: Recovering from a loss without (any or enough) insurance is a very bleak prospect.

If a disaster is officially declared federal, the average FEMA grant to an individual is $5,000, the max is $32,000. And unless you’re very low income, and very lucky, you’re not going to find a charity to rebuild your home, replace your possessions or relocate you.

Yes, paying for insurance is not pleasant or viable for some. Yes, coverage keeps shrinking yet deductibles and premiums keep rising. Yes, the claim games are appalling. But truly – until there’s a better solution – even if a bank or law doesn’t require you to buy it, pony up if you can.

• Flood insurance: Experts are predicting El Nino flooding throughout Western States. Give it a think.
• Renters insurance: Relatively speaking, it’s a bargain. Spread the word.
• Replacement value home insurance should include building code compliance.

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If you or someone you know was impacted by the recent Northern California wildfires, please visit our Roadmap to Recovery page for free help and resources.