The historic wildfires in California have put a national spotlight on the rising cost of home insurance and gaps in coverage.
Denver7 has coveredrising home insurance rates in Colorado over the past several years, in large part due to natural disasters like wildfires and hail storms.
With the risk of natural disasters growing, Denver7 spoke with Marshall Moore from On Tap Credit Union about how you can start planning now to prepare yourself for these costs.

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Moore said the best thing to do is set up an emergency fund, and work toward saving six months of reserves.
"In the case of an unexpected emergency loss of income or simply increased in expenses like rising insurance costs, this type of fund can be the difference between someone having to take out high interest debt and being able to simply weather the storm that can inevitably happen in our lives," Moore said.
He said it can take years to save that much money, but creating a budget can help you figure out how much you're able to put away each month.

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Moore said when considering insurance plans, make sure to shop around and balance the best rates with the best coverage.
"You could look at increasing your deductible, but that means that you would pay more out of pocket if you were to file a claim," Moore said. "But the advantage is that it lowers your premium."
He also suggests avoiding filing small claims and looking at the cash value of what's being insured, as opposed to the replacement cost.
For people struggling to afford the cost of insurance, many credit unions have coaching programs. You can also call 211 to find resources in your area.





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