Tornados can be deadly. The devastation of property and lives caused by tornados is astounding. And you have very little notice. If you happen to live in a tornado-prone area, you may know that you have a chance of tornado damage. But, you never know when it could happen.
As a result, many people do not have sufficient tornado insurance. After years of having been missed, they may neglect to update their coverage, or may even let coverage lapse. If this is you, and you live in Tornado Alley or other tornado-prone areas, you should be considering updated coverage and soon.
The problem is that after a tornado has struck, it's too late. While the government may provide some funding to help residents, it's never going to be enough to help you to completely rebuild. And while no insurance is perfect either, it will go a long way to getting you the funds to put your life back together and much more quickly than any government program will be able to act.
There are many people who decide that coverage against tornadoes is too expensive to suit their tastes and they choose to live without it. Unfortunately, whenever you turn on the news and see that another spate of tornados has ravaged dozens of homes in a residential area, you are likely to hear that insurance costs are estimated to be in the tens of millions of dollars and that many people were caught completely off-guard, having no insurance coverage plans to combat the risk.
This problematic situation illustrates the need to have insurance for the things you can't anticipate. While many people wouldnt argue against getting something like funeral insurance to cover them against an absolute certainty (death), they are often the same people who stubbornly refuse to get proper insurance for natural disasters like twisters.
The drawback to tornado coverage plans is that their premiums will probably be significantly higher than typical homeowner policies. However, you need to ask yourself if you can afford to go without this valuable type of insurance coverage, especially if you are in a tornado-prone area. Some people may think that they can forego insurance, if they have sufficient savings. While this may work for some, if your area is widely devastated by tornado, you may even have trouble accessing your savings (especially if the bank building is also destroyed).
In the end, it is a personal decision, but it could have huge implications for you and your family.
So, if you decide to get insurance, what do you do? Be sure to get a number of rate quotes from different insurance companies. Check those same companies for reviews by customers and ratings with rating agencies. When you are sure that you have identified some good companies with good reputations, then go with the one that gives you the best coverage at the lowest rates.