After the final financial crash, insurance may not be available for a while. Most if not all insurance companies will be broke.
But meanwhile, you can’t afford to have major debt. In a deflation, being in debt is catastrophic, you could end up homeless, hungry, or not be able to get health care at the bottom. At this point, you can’t afford to have a major disaster that’s uninsured. If you lose your home, you still need to pay the mortgage, property taxes, PLUS rent.
It’s always a good idea to shop around for insurance every few years, it’s saved us thousands of dollars and we’ve gotten better coverage too. Often the best deal is to get homeowners, auto, (earthquake) and an umbrella policy with the same insurer.
Here are the steps you need to go through to
It’s time to look at your insurance coverage again to see if the insurance company is A++ rated (has enough money to pay you after a major disaster), and whether they are likely to pay you at all even if they can. See my review of the book “Delay Deny Defend” and the post “After Future Disasters, Less Recovery” for details.
I am going to give you some ideas and resources about how to choose good homeowner’s insurance, and you can apply many of these methods or ideas to health and other kinds of insurance.
Then you need to go to A. M. Best to see what their financial ratings are so you can know if they have the money to pay you as the financial crisis worsens.