Because procrastination is the enemy of preparedness, a state agency is using an annual observance to encourage Missourians to act now.
September is National Preparedness Month, and the Missouri Department of Insurance is urging residents to review their insurance policies and eliminate any gaps in coverage.
"Insurance is there to safeguard your investments, property and livelihood when the unforeseen threatens it," said John M. Huff, insurance agency director. I encourage all Missourians to prepare this month by reviewing their coverage and speaking with their agent."
Two priorities are reviewing what isn't covered and what coverage may be inadequate and/or outdated.
According to the department, standard homeowners' and renters' insurance policies don't protect homes or belongings from damage associated with floods, earthquakes or sewer and drain backup.
Flood insurance policies are acquired through the National Flood Insurance Program and require a 30-day waiting period before becoming effective. Additional flood insurance information is available at floodsmart.gov or by calling 888-379-9531.
The agency also reminds residents that Missouri's New Madrid Seismic Zone is among the nation's most active earthquake zones.
Traditional homeowners' insurance policies, according to the agency, do not cover earthquake damage and many consumers are under the false belief that the Federal Emergency Management Agency (FEMA) will help them recover if a major earthquake damages their home. Under FEMA's Individual Assistance program, the maximum grant award is $32,900, far less than what most homes are worth.
To help Missourians find coverage, the department provides an online list of insurance companies that offer earthquake insurance.
Homeowners are advised to review and update existing polices and to prepare a home inventory of their belongings. A home inventory can help determine the level of coverage needed before disaster strikes, and it can make it easier to file a claim. The Department of Insurance offers a free home inventory booklet that offers tips on creating a paper spreadsheet or electronic file, both with accompanying photos.
Missourians with insurance-related questions or complaints may call the department's Insurance Consumer Hotline at 800-726-7390 or visit insurance.mo.gov.
Technology has eased the task of preparedness. The agency says downloading the Mo2Go Wallet App allows people to store insurance information on a smartphone, so it is readily available it a disaster occurs.
Don't procrastinate. During September's observance, prepare yourself against loss.