As for earthquakes, concerns about the New Madrid fault have spurred many Missourians to buy earthquake coverage. Missourians trail only residents of California and Washington state in buying earthquake insurance. The lower the risk in an area, of course, the lower the cost of earthquake coverage. Once you're comfortable with your coverage, experts say, you need to prepare for what happens after a disaster. For insurance purposes, the best preparation is an inventory of your home's contents, along with photographs and receipts.
Photos help, especially if the information on some items is sketchy.
Homeowners shouldn't forget the garage, basement, shed, porch and patio. Make sure you keep the video and all other important paperwork in a fireproof lockbox or in a safe deposit box at a bank, he said. If you are a renter, remember that the landlord's insurance doesn't protect your property. The company that insures your car probably also offers renters' insurance, and some companies offer discounts to customers who buy more than one policy from them. These expenses likely will be part of your final settlement.