The importance of fire insurance

As a co-founder of My Neighbors Keeper, I’d like to share some information we have become aware of in the past year that can be very devastating to fire victims.

Our non-profit organization was formed in 2011 during the time of the Bastrop Fires. We held a two-day fundraiser and raised $25,000. After giving $20,000 to Bastrop and Smithville, we started a fund and a non-profit for emergency funding for our community in time of disaster.

My Neighbors Keeper funded victims of fires for four years and in 2015 when the devastating flood hit Wimberley we were able to give more than $400,000 directly to victims who lost their homes and belongings. The funds are in the form of check allowing victims to get the things they need, toothbrush, pajamas, lodging, medications, etc. until their insurance pays.

Recently the victims of fires we have funded have been retired and their homes were paid off. Unfortunately they did not have insurance. No one would be issuing them a check to rebuild their home or replace their possessions.

Why do people not have fire insurance? That’s a good question. Is it because when they pay off their home they don’t realize they need to get a home insurance policy? Is it because they can’t afford the extra payment of insurance? Is it because they paid for insurance all those years and never needed it so figure they can go without it and save money?

I don’t know the answer, but would like to suggest to anyone who pays off your home to make sure you have insurance. And if you have a friend or relative who has paid off their home, ask them if they are still carrying insurance. Maybe our local insurance companies could provide information on the need for insurance to homeowners once they no longer have a mortgage.

Madonna Kimball Secretary,

My Neighbors Keeper