Article   ·   May 29, 2025

Is Your Home Protected? Review Your Insurance Coverage Today!

Natural disasters like floods, wildfires, and earthquakes can strike without warning, causing significant damage to your home and belongings. One of the most important steps you can take to protect yourself is to ensure your insurance policy provides the coverage you need.

Why Review Your Policy?

Getting an Insurance Check-up

Your insurance policy may not cover floods or wildfires. Talk to your agent to make sure you have the right kind and amount of insurance. You can visit FEMA's National Flood Insurance Program Quoting Tool to find out how much flood insurance may cost and find an insurance agency to purchase a policy.

Understand Your Risks

Disasters such as wildfires, earthquakes, and severe storms may also require additional coverage. Without it, you may face high out-of-pocket costs.

The Division of Financial Regulation encourages all Oregonians to use the resources below to protect your property before disaster strikes. Visit their Prepare Now site for more information.

Peace of Mind

Knowing your home and possessions are protected can help reduce stress and financial uncertainty if disaster strikes.

What to Check in Your Policy

What Does Your Insurance Cover?

• If you live in a flood-prone area, confirm whether you have flood insurance through a private provider or the National Flood Insurance Program (NFIP).
• Meet with your insurance company or agent at least once a year to review your insurance coverage. Make sure you understand the policy limits, exclusions, and deductibles. Taking time to review your policies will help make sure you have the right coverage to meet your needs.
• You can find most of this information on the declarations page of your insurance policy. Each year, your insurance company sends a copy of the declarations page when it is time to renew.

Coverage Limits

• Ensure your policy limits are adequate to cover the full cost of repairing or replacing your home and belongings.
• Check for exclusions that may apply to specific types of disasters.

Deductibles

• Be aware of how much you would need to pay out-of-pocket before coverage kicks in.
• Policies may have separate deductibles for disasters like windstorms or earthquakes.

Renters Insurance

If you rent your home, renters insurance can protect your belongings, but it typically doesn’t cover the building itself. Check if your landlord has coverage for the property.

Take Action Now

Contact Your Insurance Agent

Ask questions and clarify what is covered under your current policy. If needed, purchase additional coverage to close any gaps.

Consider Disaster-Specific Insurance

If your area is at risk for floods, earthquakes, or wildfires, consider adding specific policies to protect against these hazards.

Prepare Ahead of Time

It’s too late to make changes once a disaster is on its way. Review and update your coverage before you need it.

Resources to Help You

• Visit FloodSmart.gov for information about flood insurance.
• Contact your state’s insurance department for guidance on coverage options.
• The Division of Financial Regulation (DFR) has information on insurance, regulations and resources for consumers specific to disaster preparedness.
• Explore local resources to learn about the specific risks in your area.
• Division of Financial Regulation : Wildfires : Disaster Messaging Toolkit : State of Oregon

Taking time now to review your insurance coverage can save you from significant financial loss and provide peace of mind when disaster strikes. Don’t wait—ensure you’re properly protected today!

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