Insurance is part of everyday life. From hearing about health insurance on the news to paying car insurance to drive to work, it’s ubiquitous. But as preppers who are fully prepared to see the end of the world, there is always the debate about whether insurance is really worth it in the long run.
The answer is a resounding “yes.” Having insurance can do wonders should you face any hardship or destruction to your property. Check out these different insurance options and learn why you need to consider them so you can stay out of financial trouble when faced with adversity.
Security Before Doomsday
You’re preparing for the end of the world. If the apocalypse does come around, the insurance companies will no longer exist, and you will never get a payout, so what’s the point? Well, as preppers, we are anticipating not only the end times, but the other disasters that could happen to ourselves and our community, and this is where having insurance could be paramount.
A lot of bad stuff could happen on the way to doomsday, so you want to protect your possessions so that all of your prep work does not go to waste. Consider homeowners insurance or renters insurance. Both of these types of insurance protect your dwelling, the other structures on your property (such as a trailer or fallout shelter), and your personal property inside these structures.
Although home insurance generally does not cover the most extreme disasters (more on that later), it does cover lesser events such as fire, lightning, and hail damage. If you lose your home and have no backup plan, then you are starting from square one with your prepping — and that is not a place you want to be. Also consider your chances of having to contend with looters. Either at the end of the world or before, you always have to be prepared for theft, and home insurance should cover stolen or damaged items.
Life and Health Insurance
Again, why bother if the insurance companies won’t be around to cover expenses? Look at it this way: When doomsday comes around, and a majority of the world perishes, you will be one of the few survivors because of your prepping and planning. If you want to stay alive long enough to rebuild, then you will have to be healthy.
Health insurance can be expensive, but if you break an appendage, contract a disease, or get injured or sick at your job, you will need healthcare. With insurance, the cost will be much lower than going without or not getting the medical attention you need. In cases where your employer is responsible for the illness, as is often the case with mesothelioma, it can help meet your healthcare expenses while litigation continues. Insurance is key to having the finances necessary to continue your prepping and stay ahead of the curve when things get bad. You do not want a depleted savings account due to unnecessary medical costs.
On another note, since your family should be your top priority during the end of days, you might also think about life insurance. It’s wise to get life insurance sooner than later because its coverage kicks in at different times depending on the policy you choose. As you get older and your health deteriorates, insurance will become more difficult and costly to obtain. If you are the breadwinner and head of the household and anything were to ever happen to you, it would be imperative that your family gets the money so they can be safe before and after doomsday.
Disaster Insurance
Before the apocalypse, other serious catastrophic events could happen that may not be covered under traditional insurance, and if the world goes on after these disasters, then you will want to be able to recover afterward. For instance, if you live in coastal areas or on a flood plain, then you may want to invest in flood insurance. This type of insurance can cover extensive water damage and loss of property and can help you to fix your home, foundation, plumbing, electrical systems, and more.
If you live anywhere near a fault line, you may want to also heavily consider earthquake insurance. This form of insurance is completely separate from your home or renters, and although it may not cover all of your belongings, it can help to put a roof back over your head. You do not want to be without shelter after a big earthquake hits, so strongly consider this coverage if you live in a high-risk area.
Tips to Afford Coverage
Supplemental forms of insurance can be rather expensive. If you really want to be covered against the most extreme of disasters, and you want to have only one payment, then consider catastrophe insurance. Many policies under catastrophe insurance can cover the scenarios we mentioned above and can assist in the event of a hurricane or terrorist attack.
Liability Insurance coverage protects you from lawsuits filed by others. This clause even includes your pets! So, if your dog bites your neighbor, Doris, no matter if the bite occurs at your place or hers, your insurer will pay her medical expenses. Or, if your kid breaks her Ming vase, you can file a claim to reimburse her. And if Doris slips on the broken vase pieces and successfully sues for pain and suffering or lost wages, you’ll be covered for that, too, just as if someone had been injured on your property.
Further, know that setting aside money for insurance does not necessarily mean you need to delay other projects related to your prepping efforts. For instance, if you’d like to spend additional money fortifying or building onto your home before things get out of control, consider getting a home construction loan. This will free up your money for better insurance and enable you to seek coverage sooner rather than later.
As serious preppers, we know that it is imperative that we are ready to take on any property or financial disaster that may come our way. Insurance may not pan out if the end of the world happens sooner than later, but it can be instrumental in the meantime.