Insurance is expensive, unfamiliar to disaster-hit Chinese

[NewsCaster]

In the U.S., Americans rely on insurance to protect against disasters. In China, families rely on themselves. CNBC Asia's Eunice Yoon has more from Beijing.By Adrienne Mong, NBC NewsImagine a day-long storm with torrential rains and high winds pounding your home. By the time it blows over, you have lost everything you own. And you have no insurance.

This was the scenario in July for residents of Fangshan, a district 50 miles from the center of China's capital Beijing.

Some 18 inches of rainfall dumped on Fangshan, causing a normally dry river to overflow and flood the surrounding homes. Half of the 77 people killed as a result of the storm were in Fangshan – as were half of the estimated 57,000 people forced to evacuate their homes.

Liu Su Xia, a spirited 60-year-old grandmother, was in her house when the water rushed into the single-story courtyard building.

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[Glory Skales Charity]

Insurance is very expensive i must confess.i agree totally