The importance of insurance when disaster strikes

IDAHO FALLS, Idaho (KIFI)- Preparing for unexpected disasters is important.

In just the past few weeks, Local News 8 has reported on attempted Rexburg apartment break-ins, a recent business fire in St. Anthony, and potential flooding.

One way to be prepared is making sure you have the right insurance.

Goosehead Insurance agent and broker Chad Christensen told us, "If you don't have that protection, you know, it can really hurt you in the end."

He has helped many people find insurance coverage that best meets their needs.

"So insurance overall is a transfer of risk from you to the insurance company. That's very important to have that risk taken away so you feel assured that those things will be taken care of," Christensen explained.

According to Forbes Advisor, 90% of small business owners in America feel that their business is not adequately insured. Twenty-nine percent are not insured at all.

Forbes says the biggest insurance barrier for business owners is not knowing what type of coverage they need.

That's because it really does vary from business to business.

When it comes to renter's insurance, Forbes advisor reports that the average renter's insurance in America is less than $25 a month.

Christensen also told us that most homeowner insurance policies do not cover flood damage.

So, it is important to look at the fine print of your policy and fill in the gaps with additional coverage where needed.