The urgency of securing housing in light of the increase in natural disasters in Mexico.

The increasing intensity of weather phenomena that Mexico has experienced in recent years has highlighted the vulnerability of many homes and businesses to flooding and other natural disasters. Hurricane Otis, which made landfall in Acapulco almost a year ago with the force of a Category 5 hurricane, is a clear reminder that protecting our assets is not just an option but a necessity. With the recent wave of flooding in Chalco, it is essential for citizens to become aware of the importance of having insurance that covers these events. The reality is that most people do not think about risks until they are directly affected, and when that happens, it may be too late. "The cost of not having insurance can be devastating," warns Carlos González, CEO of Sura Insurance Mexico. As natural disasters become more frequent and severe, it is imperative for homeowners and business owners to review their insurance policies and understand exactly what risks are covered. For those who are still unfamiliar with the concept of insurance, these are instruments that allow an individual to transfer the risk of financial loss to an insurance company. According to Adolfo Ruiz, communications director at Banco Ve por Más (BX+), the cost of insuring a home is relatively low compared to the protection it provides. For example, for a house valued at 5 million pesos, the annual premium could be around 10,000 pesos, which represents a fraction of the total property value. It is essential to clarify that not all insurance policies are the same. Basic coverage typically offers protection against fires and earthquakes, but to be fully protected, it is necessary to add coverage for hydrometeorological phenomena, which include flooding. These coverages are vital, especially in a country where natural disasters are increasingly common. However, it is also important to read the clauses of each policy to understand the limits and conditions of the coverage. Moreover, it is crucial to note that not all floods are caused by weather phenomena. Some may result from infrastructure failures, such as broken pipes. In such cases, specific policies that cover damages from these circumstances may be needed. Ruiz emphasizes that the cost of insurance also depends on the risk associated with the property's location, meaning that living in a flood-prone area could increase the premium. If your home is affected by a flood, the process of filing an insurance claim is relatively straightforward, as long as the appropriate precautions have been taken. Having an emergency kit with the insurance policy and documents proving ownership of the property is essential. After an incident, experts recommend contacting the insurance company immediately and documenting the damages with photos and videos. This will facilitate the assessment and payment process by the company. The response time of insurance companies can vary significantly depending on the demand generated by recent natural disasters. For example, after Hurricane Otis, many insurers experienced an increase in claims, resulting in longer wait times. However, some companies, such as Sura, commit to making payments within 15 calendar days after an adjuster assesses the damages. Before signing an insurance contract, it is vital to read it carefully and clarify any doubts. Experts warn that all coverages must be clearly specified in the policy. Additionally, it is advisable not only to insure the structure of the home but also its contents, including furniture and electronic devices. An insured person who overestimates or underestimates their assets may face problems when making a claim, which can significantly reduce the amount they receive. Finally, with the growing threat of natural disasters, it is essential for Mexicans to educate themselves and take proactive measures to protect their assets. Investing in adequate insurance not only provides peace of mind but can also be the difference between a quick recovery from a disaster or long-term financial devastation. In an increasingly uncertain world, securing insurance is more than a financial decision; it is an investment in the safety and stability of your home and your future.