Without question, our homestead, retreat, compound, farm, ranch or home is one of our most valuable assets in a TEOTWAWKI scenario. It will be where we hunker down, retreat to and use to protect ourselves from what dangers threaten us. Properly insuring your home and all your survival gear is of great importance. Having insurance to replace what was lost and not having to start over can make all the difference in the world. While insurance certainly isn’t as exciting of a topic as gun reviews, gardening techniques or pretty much everything else we read about on SurvivalBlog, it is as important, and worth having a good working knowledge of what you may need.
We all prepare for the end of the world as we know it, but understanding insurance will help you for “the end of the world as you know it” events we’re all at risk for. Below are my suggestions on what you can do to review your policy as well as understand what coverages you have and might need. I did my best to keep the topics relevant to SurvivalBlog readers and what I anticipate your concerns may be. Please note this is for entertainment purposes only, and you should consult with your specific agent as coverages and laws vary from state to state. Also, please note this is not a complete list of coverages you may need. I simply highlighted some areas I thought might be of particular interest to SurvivalBlog readers.
Dwelling Coverage
This is the coverage that insures the main home. The coverage amount should reflect the price per square foot to build in your area. This can vary greatly based on location, so be sure you understand your local cost to build, and make sure you have a bit more than you may think you need today. As current events in the world can disrupt supply chains, the cost of materials can increase quickly. Many policies will include extended replacement coverage for such scenarios. Be sure you have at least 25% extended replacement coverage. Ideally, 100% extended replacement coverage or guaranteed replacement coverage would be best.
Other Structures
This will most likely pertain to many SurvivalBlog readers. This is the coverage that insures any structure other than the main home. Sheds, shops, barns, stables, fences, etc. are all covered under this coverage. The standard coverage is 10% of the dwelling coverage, which for many people will not be enough. Be sure you adjust this coverage for your specific need.Continue reading“Home Insurance 101 – Part 1, by C.J.”
