Here it is, from Wikipedia, where I found it. It's the longest word in the Oxford English Dictionary that's non-technical. It means "the act or habit of estimating or describing something as worthless, or making something to be worthless by said means."

http://en.wikipedia.org/wiki/Floccinaucinihilipilification

I'd say to look into insurance, for sure. Hopefully, it won't happen again, but if it does, you'd be prepared.