After the major calamities that hit the Philippines recently, everybody is thinking of getting property insurance. It's so sad that the recent Ondoy calamity (International name: Typhoon Kestana) claimed not only properties but lives of so many people. The sudden flash flood in Metro Manila was a surprise, and it hit all of us unexpectedly at the least expected areas... Metro Manila.
Luckily, we were spared by the flood. Our properties (house and cars) were safe, and nobody from my family was harmed. Though we experienced some flooding on our streets, it was nothing compared to some of my friends who lives in Pasig and Cainta, lost their properties from flood and was not able to save anything at all. The sad part, after this typhoon .. they need to re-build their homes, have their cars fixed and they failed to get insurance coverage that will cover acts of God calamities. Now it made me think, it's really important to include natural disaster coverage in the insurance quote. Be it for propoerties or lives of people. I never thought it will become handy or practical to add a premium rate for Acts of God coverage, but after the typhoon incident ... wouldn't think twice.