Natural Disasters in Georgia Can Toss Consumers into Debt, Bankruptcy

Hurricane Irene stormed up the Eastern seaboard as a low-category hurricane and yet became one of the most destructive storms in recent history after causing flash flooding, downing trees and power lines, and damaging homes in many states.

It's usually not until a major natural disaster that we consider how powerful Mother Nature is and how devastating the damage left behind can be. Most Georgians remember the tornadoes that tore through Alabama and parts of Georgia earlier this year. Even premier insurance coverage doesn't always cover all losses, so people can be left dealing with a financial disaster.
It's events like these that can radically alter a person's life. Having a home severely flooded or damaged can leave bills mounting, even after insurance coverage. These unexpected bills on top of all other regular bills, can leave a person in ruins. Bankruptcy protection in Atlanta, however, can help a person turn things around.

If the debt that is mounting is so unbearable that a person must choose between which bill to pay and how they're going to buy groceries, it may be time to consult with an experienced Atlanta Bankruptcy Lawyer to discuss your options and determine how best to move forward with life.

A recent article discusses why you may not be prepared for the next "Hurricane Irene" of your life. Earthquakes and hurricanes have been common in the news in the United States in recent weeks and this may be a good time to figure out how to avoid financial disaster after a natural disaster.

Earthquake coverage: This may not just apply to Californians. As Virginians recently saw, earthquakes can happen anywhere. Most homeowner's policies don't include earthquake damage, so it will require a separate policy. Areas not usually affected by quakes usually have smaller premiums.

Hurricane coverage: Check to see if your policy covers hurricanes because some companies are dropping coverage. And make sure it covers more than wind damage. Water and flooding can be equally damaging or even more of a disaster. Post-storm mold can be very expensive to remove.

Is your house under-insured?: As many as 64 percent of American homes are underinsured by about 27 percent. Over-the-phone salespeople are usually poorly trained and don't offer enough coverage. You may have to pay out-of-pocket in a disaster.

Are your "valuables" really that valuable?: Record everything you own and store the video online so you can access it at any time. You may need it to show an insurance agent to prove the value. Also, make sure the policy covers the "replacement value" and not necessarily the "actual cash value."

How to choose a policy: Specialty insurance can be expensive, so try to bundle it to get a discount. If you have special memberships, a home security system or other things that would be attractive to insurers, that may score some extra discounts, too.

If you need to speak to an Atlanta bankruptcy attorney call the DebtStoppers Bankruptcy Law Firm at 800-440-7235 today for a free debt analysis.

More Blog Entries:

Medical Bills Increasing Factor in Atlanta Bankruptcy: August 30, 2011

Additional Resources:

Why You May Not Be Prepared For The Next Irene, by Liz Davidson,

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