Insurance coverage in times of disaster

RENO, Nev. (KOLO) – John Barsanti works in a business where the details for many of us cause our eyes to glaze over. He says he loves it and understands the confusion surrounding insurance.

But he says the insured need to know what’s behind the cost.

“For the most part I think people look at the total amount of insurance that number that says $400,000 or $450,000,” says Barsanti, a Farmers Insurance Agent. “But they don’t understand that within the $400 or $450,000 there are a lot of different endorsements and options that you can add to that policy to have full coverage.”

In these times of inflation, insurance is more expensive, and so is the cost of replacing a home.

He suggests looking at the homeowner’s insurance policy.

Is the total amount covered adequate in replacing the home and its contents in today’s dollars? Does the policy include extended or replacement costs? What is the difference? And why does one cost more than the other?

Have you acquired more valuables since the policy was written?

“There are limitations within a policy that you can add,” says Barsanti. “You know like a nice watch and full replacement costs on it if it were to get lost or stolen.”

The same can be said for car insurance. Some policies will just cover an accident. But what if a fire or mudslide destroys your car? Is that covered? Does the policy allow for a rental car until the damaged vehicle is repaired?

Renters insurance too has subtleties. Will insurance pay for you to stay in a hotel until the renter can move back? Some of these differences will cost more.

Barsanti says with everything going up, consider paying a higher deductible to get the coverage needed. He says while it might be tempting to buy the insurance online; it may even be less expensive.

He says there is really nothing like that one-on-one conversation with an insurance agent to see exactly what the cost is and what the coverage will do.

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