BE PREPARED FOR STORMS!

While we all look forward to the summer weather, we should also be aware of weather extremes. Hurricanes, tornadoes, thunderstorms, flooding and mudslides present very real dangers. Homeowners should be aware of these weather extremes and the property losses which might result from one of these events. Our Homeowners Insurance Resource Center was developed to help homeowners review their homeowner insurance coverage and the claim process.

In addition, the New York State Emergency Management Office and State Disaster Preparedness Commission provides a very informative Web site which discusses how individuals can prepare for and recognize weather hazards and what actions should be taken should one occur.

TAKE TIME TO REVIEW YOUR POLICY BEFORE DISASTER STRIKES

Is it sufficient and appropriate?

• Actual Cash Value (ACV) coverage will only pay for replacement costs less depreciation.
• Replacement Value coverage will pay for replacement but only up to policy limits. Make sure that your policy limits are sufficient.
• The type of coverage that you have may not be the same for your personal property as it is for your dwelling. If you want replacement coverage for your personal property, it may have to be added to your policy.
• Many items in your household may have limited coverage or none at all. The coverage on valuable documents, antiques, musical instruments, business personal property, computers, etc. should be reviewed and policy endorsements discussed with your broker, agent or insurance company if necessary.
• Flood is not covered under a Homeowner’s policy. You may live in a designated flood area. Contact your broker, agent, or insurance company to find out if you live in such an area. If you do, your agent or broker may be able to obtain a flood policy from the National Flood Insurance Program or an authorized insurance company.

Are there other exclusions that you should be aware of?

• Loss from "Earth Movement" is not covered under a homeowner’s policy. Loss from mudslide is not covered under this exclusion. Know whether your home is susceptible to this kind of loss. You may wish to consult a professional engineer.

Are there special deductibles on your policy?

• Policies issued to homeowners near shores and waterfronts may have higher windstorm loss deductibles which are usually triggered by officially measured hurricanes. Review your policy to be clear what additional loss exposure you may have in those circumstances.

Are you prepared to prove a claim to your insurer?

• A written inventory of household possessions may be very helpful in filing a claim for losses. It should be kept in a location away from the home.
• Receipts for the purchase of items will help prove the value of a loss. Again, they should be kept in another location.
• A videotape or photographs of your household and possessions can be valuable to support a claim. Again, keep them in another location.
• A copy of your policy in a separate, safe location may prove valuable if the papers in your home are damaged or destroyed.

IF YOUR HOME SUSTAINS DAMAGES

• Notify your insurance company or its agent as soon as possible after the loss. It is best to follow up a telephone call with a written notice. Keep a copy for your reference.
• Under your policy you are responsible to protect your property from further damage. Costs for these repairs and temporary emergency repairs are covered under your policy. However, you must give your carrier the opportunity to inspect the damage before final repairs are done. It is a good idea to photograph the damages before any emergency or temporary repairs are done.
• The company may ask you to submit a written claim form. They should contact you within 15 days after your claim is submitted. They may have a an adjuster inspect your loss. The company will contact you when they have made their determination.
• If you need assistance with your claim you should contact your agent, broker, the carrier, or the Consumer Services Bureau.
• If your area has been declared a state or federal disaster area, you may be eligible for assistance under the New York State Emergency Management Office or the Federal Emergency Management Office. You should contact these offices directly. They will normally set up disaster centers in the area to provide assistance.

Visit the Department's Homeowners Insurance Resource Center for more information on Homeowner's Insurance.

Reprinted from New York State's Consumer Guide to Automobile Insurance.