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Navigating the World of Disaster Insurance: A Guide for First-Time Homeowners

Congratulations on becoming a homeowner! Owning a home is a significant achievement that comes with a sense of security and pride. However, homeownership also comes with its share of responsibilities and risks. One aspect of protecting your new investment is understanding and securing the right insurance coverage for you. In this blog, we’ll review tips for selecting your new policy and reasons to consider supplemental disaster insurance. Tips for First-Time Homeowners Assess Your Risk: Did you know that nearly one in four U.S. adults say they don’t have emergency savings and that there were a record 28 weather and climate disasters (costing $1B each) in 2023? Research the natural disaster risks most likely to affect your area and prioritize supplemental insurance accordingly to support your emergency savings. Compare Policies: More than 70% of disaster damage from the past 10 years has not been covered by insurance. Compare different insurance providers, [...]

Flynn Wright2024-07-02T19:21:49+00:00Tags: home insurance, homeowner tips, natural disasters|

Disaster Proof: Protecting Consumer Financial Health with Emergency Savings

Whether facing threat of pandemics, foreign/domestic unrest and natural disasters, having an emergency fund is critical to a company’s short- and long-term success. A common threat to your business’ and employees’ livelihoods is natural disaster. Tornadoes, hurricanes, earthquakes, wildfires and winter storms can leave your teams struggling to meet their most basic needs and your business millions. The risk is real. According to the National Centers for Environmental Information, the contiguous U.S. states suffered 28 separate billion-dollar weather and climate events in 2023 – the most ever recorded. These disasters caused widespread destruction and damage leaving some communities in ruin and millions of consumers facing internet, power and other utility outages. And while these events can feel like the extreme, it’s indicative of the rising risk and costs of severe weather events as well as their ubiquity. Recent data from Rebuild by Design shows that 90% of U.S. counties suffered a [...]

Flynn Wright2024-07-02T19:22:50+00:00

Peril Know-How: The Growing Threat of Dust Storms

While dust storms aren’t often a prevalent topic in the severe weather space, they are certainly ready to enter the conversation as reports show that atmospheric dust levels across the Great Plains have nearly doubled between 2000 and 2018. Dust storms are characterized by strong winds carrying dust and debris. In this blog, we’ll explore some important safety tips for understanding as well as navigating dust storms to minimize their impact on your property and financial wellbeing. What is a dust storm? Dust storms occur when strong winds lift loose soil and dust particles, creating a dense cloud that can reduce visibility and cause significant damage. This phenomenon is more likely to occur after a period of drought, when the land is warmer and soil is more exposed to winds, which is why we typically see dust storms during the dry summer months between June and August. Arid or semi-arid [...]

Flynn Wright2024-05-23T13:46:26+00:00Tags: homeowner tips, severe weather|

How to Safeguard Your Pets During Extreme Weather

May is National Pet Month and to celebrate, we’re discussing a topic that’s not often prioritized in conversations about disaster preparedness: safeguarding your pets during extreme weather. Any pet owner knows that our pets are more than just animals, they’re beloved members of our families. Just like us, they’re vulnerable to the impacts of severe weather and natural disasters. Whether you’re facing a hurricane, wildfire, earthquake or blizzard, being prepared can make all the difference in keeping your furry companions safe. In this blog, we’ll explore essential preparation and precautions to ensure the well-being of pets during an emergency. Create an Emergency Kit: Alongside your family emergency kit, prepare a pet-specific kit that contains essential items: Sufficient pet food and water reserves for at least three days Medications Collapsible food and water bowls Copies of identification and vaccination records Leashes, blankets, towels, and a familiar toy or comfort item Develop [...]

Flynn Wright2024-05-01T18:44:37+00:00Tags: homeowner tips, severe weather|

Peril Know-How: Preventing Gas Explosions Starts at Home

A report from the Public Interest Research Group, found that every 40 hours, a gas pipeline incident occurs somewhere in the U.S. The frequency of these events may not come as a surprise when you factor that in 2020, 61% of American households relied on natural gas for at least one energy use (U.S. Energy Information Administration). Natural gas explosions often begin with gas leaks, as escaping gas mixes with outside gases (like hydrogen), resulting in explosions that devastate homes, destroy possessions and injure people. With so much at stake, it is imperative to learn more about practices to protect your home and loved ones from a potential gas explosion event: Install Natural Gas Detectors Natural gas is colorless, odorless and tasteless, so it is crucial to have detectors in your home to alert you of any leaks. Be sure to monitor your detection equipment regularly to ensure the units [...]

Flynn Wright2024-04-05T15:59:45+00:00Tags: homeowner tips, natural disasters|

Be Informed, Be Prepared: Top Resources for Staying In-the-Know About Severe Weather

While hurricanes and blizzards may come with some fair warning, many natural disasters strike with little to no warning at all. Depending on where you reside in the United States, different types of disasters can impact your area throughout the year. The Great Plains aren’t likely to see a hurricane any time soon and tornadoes may be scarce in Alaska, but that doesn’t mean they’re free from the negative impact that comes with adverse weather. From 2011 to 2021, 90% of all counties in the United States, representing 93% of the country’s total population, suffered a weather disaster. And because many disasters can be interconnected, it’s wise to be wise about weather patterns happening throughout your region. Because Recoop Disaster Insurance is here to protect your family and your finances after disaster strikes, we wanted to share top tools to help you stay tuned into what could be coming your [...]

Flynn Wright2024-03-12T18:25:20+00:00Tags: natural disasters, severe weather|

Driving the Next Generation of Insurance Innovation

Q&A with Jim Lewis, Executive Director, Vaughan Institute of Risk Management and Insurance, University of Iowa In 2023, long-time insurance industry entrepreneur Jim Lewis was named executive director of the Vaughan Institute of Risk Management and Insurance at the University of Iowa’s Tippie College of Business. With more than 200 insurance companies based in Iowa and fewer than 60 universities in the country offering risk management and insurance programs, Lewis is tasked with inspiring the next generation of insurance and risk management industry minds, leaders and innovators to fuel Iowa’s insurance economy and the global risk management industry. Lewis is uniquely fit for the task as an Iowa alum, former instructor and someone who has co-founded and led numerous insurance and insurtech companies. He also was the former alumni director for the Global Insurance Accelerator, an international insurance incubator for insurtech start-ups, based in Des Moines. Recoop’s Chief Distribution Officer [...]

Flynn Wright2024-02-13T18:23:28+00:00

Navigating the Storm: Natural Disaster Trends of 2023

As a new year begins, the country looks in the rearview mirror at the unprecedented challenges posed by natural disasters in 2023. The NOAA reported it as a record-breaking year for the United States with 25 separate weather disasters each exceeding $1 billion in losses. From devastating hurricanes and wildfires to severe storms and floods, communities are grappling with the increasing frequency and intensity of these events. Let’s delve into the biggest disaster trends of 2023 and see how we can enter the new year better informed and prepared. A Year in Review Rising Frequency of Extreme, Unexpected Weather Events One of the most notable trends in 2023 is the escalating frequency of extreme weather events. Climate change has resulted in more intense hurricanes and cyclones, leaving coastal areas particularly vulnerable to powerful storms and widespread damage. Changing weather patterns have also introduced new threats to regions, like the first-ever [...]

Flynn Wright2023-12-20T22:19:28+00:00

What to Expect After Disaster Strikes

Those who have first-hand experience with natural disasters know how their impact can last well after immediate trouble has passed. Once you navigate the hurdles nature has thrown your way, attention promptly turns to getting everything back together so you can fully recover as quickly as possible. We often emphasize the preventative actions we can take in preparing for severe weather events, but what you do after disaster strikes is just as important. Let’s raise the curtain on the road to recovery after disaster strikes. Disaster Struck. Now What? Before all else, make sure that your loved ones are safe. This initial period will entail checking in on friends and family and seeking out temporary lodging if needed. Once you’ve secured your community and needs, you can begin the process of physical and financial recovery. Assess the Damages: If it is safe to do so, go around your house and [...]

Flynn Wright2023-11-30T15:59:55+00:00Tags: home insurance, homeowner tips, natural disasters|