I just watched the videos and browsed photos of earthquake and tsunami affected areas in Japan. The devastation was so huge and so many properties were damaged. I saw the huge pile of cars, boat and even light planes, wrecked buildings and houses in different places. I’m sure insurance companies are in deep trouble right now because of the insurance claims they will be facing.
That’s the advantage of having your property insured, in case of emergency you know where to turn to. I have a cousin who is based in Japan has an RV and she never forgets to renew their motorhome insurance every year. And now that a disaster happened in their place, I’m sure she’s thankful that she secured their property by having their cars and other properties insured.