Hurricane Season Loss Prevention Tips

hurricane.gif

  Being in the peak of Hurricane season, property owners with coastal area exposures are all too aware that the time to take precautions for the next storm is now.

Loss modeling provided by the Insurance Information Institute supports that named-storms are occurring with higher severity and increasing in frequency along the U.S. Coastline.

Rank

Name

Year

Category

Damage

Numbers adjusted for inflation 2010
1. Katrina (LA/MS/AL/SE FL) 2005 3 $105,840,000,000
2. Sandy (CT/DE/MA/MD/ME/NC/NH/NJ/NY/PA/RI) 2012 2 $60,000,000,000
3. Andrew (SE FL/SE LA) 1992 5 $45,561,000,000
4. Ike (TX/LA/MS) 2008 2 $27,790,000,000
5. Wilma (FL) 2005 3 $20,587,000,000
6. Ivan (FL/AL) 2004 3 $19,832,000,000
7. Charley (FL) 2004 4 $15,820,000,000
8. Irene (NC/VA/MD/DE/NJ/NY/CT/VT/NH/ME) 2011 1 $15,800,000,000
9. Hugo (SC) 1989 4 $9,739,820,675
10. Rita (LA/TX) 2005 3 $11,797,000,000

 

The best way to avoid property loss and ensure your family’s safety is by having a plan in place, and reviewing an annual preparedness plan. Continuing to these actions into next year's hurricane season with the following tips could help consumers avoid insurance claims problems in the event of an insurable loss include:hurricane

1. Have Property Policies Reviewed — Insurance Policies are complicated and vastly different with all sorts of legal and technical language and pages of fine print that confuse the average consumer. It is beneficial to have Insurance Policies reviewed and analyzed by an industry professional, to ensure that one has the proper coverage for the upcoming storm season.

2. Document Property with Photos and/or Video Now – When a consumer suffers a property damage and files a claim, the more proof of the pre-damaged property conditions and value of items pre-loss they can provide will make the claims process go much smoother. Consumers should take plenty of photos of their belongings and a video of their property now, prior to the storms.

3. Keep Copies of Important Documents Safe – It is recommended that property owners make copies of important documents, including insurance policies, and store them in waterproof bags in a safe or secure off-site location. Additionally, in areas that have been hit by hurricanes in the past, it is beneficial to have copies of receipts or other documentation of previous damage repairs. Insurance companies are not going to pay for the same damages twice, and consumers may need to prove that they made repairs on previous claims.

4. Inventory Contents – The contents portion of a claim can be extremely complicated, particularly in large losses. Most people do not keep receipts for many of their contents, thus proving that they had the items they claim can be a difficult task after the damages have occurred. It is suggested that policy holders create a detailed inventory list as soon as possible, before any hurricane related damage may occur.

Useful Links:

http://www.floodsmart.gov/floodsmart/pages/flooding_flood_risks/what_causes_flooding.jsp

https://www.knowyourstuff.org/iii/login.html

Swingle, Collins & Associates specializes in Hurricanes and Severe Windstorm Insurance commercial and personal property and casualty insurance coverage in McKinney, Allen, Dallas, Westlake, Southlake, Highland Park, Coppell, Argyle and Plano. The descriptions of coverage listed on this website are brief and subject to the provisions, limitations, and exclusions that can only be expressed in your policy and related endorsements. For additional information of how Swingle, Collins & Associates can assist in meeting your coverage needs for property and casualty insurance please contact your dedicated risk manager to discuss the benefits and services of personal homeowners insurance coverage.

The information contained on this page is provided for informational and educational purposes only. It contains general information on insurance issues and may not reflect the most current developments in insurance coverage and is unlikely to apply in all factual scenarios. The information does not include all the terms, coverage, exclusions, limitations or conditions that may be contained in the actual insurance contract language. The policies themselves must be read for those details. Sample policy forms will be made available upon reasonable request.