Fewer than 22% of homeowners see changes in the environment or natural disasters as being an important factor to consider when updating their homeowner’s insurance coverage.

This information was found in a new study done by the National Association of Insurance Commissioners (NAIC). With the increase in natural disasters, the NAIC encourages homeowners to think about their risks and take the time to understand what coverages are included in their existing insurance policies.

For example, recent climate changes in the northern area of Nevada have been determined as the underlying cause of a catastrophic flood. State officials warn that the worst may not be over as they are preparing for additional flooding.

Another example: There is an increased risk for mud and rock slides because of erosion in the areas that have been affected by increasing wildfires.

Damage to your house or property caused by such disasters may not be covered by your homeowner’s insurance policy. Instead, you’ll need a special policy that offers specific coverage for things like flood insurance coverage.

Between 2005 to 2015 natural disasters caused roughly $24 billion in insurance claims. However, the study performed by the NAIC found that 56% of homeowners have not read through their homeowner insurance policies in over a year. Additionally, 14% are not sure if they have ever evaluated their plan.

It is important you review your policy with your agent to be sure you have the coverage you need.

Prior to Natural Disasters

We recommend asking yourself these questions each year:

Is my home in increased danger of:

* Floods,
* Wildfires,
* Earthquakes?

Next ask yourself:

* Has anything changed in my house?
* Has there been any change in the total number of people living in my house or the value of the personal belongings in the house?
* Have I added any major acquisitions such as art or other valuable belongings?
* Have I had any updates to the house such as renovations, an updated security system, or any other major changes to the home?

Then ask:

* Are there any new fire prevention or protection solutions offered in my area?
* Do I have a fire safety zone around my home? Has it been adequately maintained?

And remember, our team of insurance professionals is at the ready to help you. Please reach out if you have questions.