Photo by Irfan Khan/Los Angeles Times via Getty Images
The pandemic and the presidential election dominated the news in 2020, but natural disasters also loomed large across the U.S. There were 22 extreme weather events last year, according to the National Oceanic and Atmospheric Administration, including the wildfires that spread across California, the tropical storms and hurricanes that pummeled the Atlantic coast, and a handful of tornadoes. Those disasters left more than $95 billion in damages in their wake, with homeowners and businesses large and small bearing the brunt of the costs.
Many homeowners have misconceptions about what their home insurance policy will cover, leaving them with unexpected expenses when disaster strikes. For example, when Policygenius.com, an insurance comparison website, surveyed homeowners last year, more than 53% of them said they believed that flood damage is covered by a standard homeowners insurance policy. (It’s not.) The survey also found tha
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Sylmar quake anniversary a good reminder to get insurance, prepare your home
KABC
Share: Like many Southern California homeowners, David Beilfuss thinks about the next big earthquake and wants to make sure his house will survive. Like many people in California I m house-rich and cash-poor and I have to protect the biggest investment that I have, says Beilfuss.
He protected his house by retrofitting the foundation, bolting it down.
But in case of a catastrophic event he also has earthquake insurance. Bolting the home made that insurance more affordable. Earthquake insurance went down considerably because they know the risk is much less, he says.