Navigating Insurance Risks: A Comprehensive Guide for National Insurance Awareness Day

Understanding Your Insurance Coverage

June 28th marks National Insurance Awareness Day, a day dedicated to evaluating your insurance coverage and assessing your risk. It's crucial to review your policies regularly, especially in light of recent events such as the COVID-19 pandemic, which has significantly impacted many people's financial situations. According to a recent survey, nearly 40% of Americans have experienced financial difficulties due to the pandemic, making it more important than ever to ensure that your insurance coverage is adequate.

Assessing Catastrophe Risks

Hurricane season officially started on June 1st, and it's essential to consider your catastrophe risk. Do you know the storm risk in your area? According to the National Oceanic and Atmospheric Administration (NOAA), the 2021 Atlantic hurricane season is predicted to be above average, with 13 to 20 named storms. This makes it crucial to have the right insurance coverage, including supplemental flood or wind insurance. Remember: anywhere that it can rain, it can flood.

Practical Tips for Insurance Review

To make the most of National Insurance Awareness Day, here are some practical tips: First, review all your insurance policies, including health, auto, home, and life insurance. Second, consider any life changes that might necessitate updating your coverage, such as a new job, marriage, or the birth of a child. Finally, consult with an insurance professional to ensure that you have the right coverage for your needs.