The Federal Emergency Management Agency (FEMA) wants to take this time to remind homeowners are still at risk for flooding during the winter months. First, the dangers of severe weather and related flooding do not end when colder weather begins. Floods are a year-round hazard, and they can be especially damaging during the winter due to heavy seasonal rains, melting snows and other factors. Second, most homeowners insurance does not cover flood damage. Without the financial safety net that flood insurance provides, residents may be forced to cover thousands of dollars in damage on their own.
Flood risks are particularly significant in the Western portion of the United States this time of year. The rainy season in these states brings the majority of annual precipitation to the region. Portions of the country may also see an increased risk of flooding because of summer wildfires, which leave the ground charred, barren and unable to absorb water, creating conditions ripe for flooding and mudflow.
There are simple steps residents can take to prepare for seasonal winter flooding, and one of the most critical ways to protect homes and businesses is by obtaining flood insurance. Because flood policies typically take 30 days to become effective, residents should not wait for the next storm to take action - the time to get protected is now.
Flood insurance is available to renters, homeowners and business owners through approximately 90 insurance companies in more than 21,000 participating communities nationwide. Individuals can learn more about seasonal flood risks and what to do to prepare by visiting FEMA's FloodSmart.gov website, or by calling 1-800-427-2419.
Showing posts with label insurance. Show all posts
Showing posts with label insurance. Show all posts
Tuesday, November 8, 2011
Monday, September 26, 2011
Protecting your Home's Property Through Video Documentation
With the current drought conditions in Central Texas most likely to continue, the threats of wildfires still exist for homes in the area. If your home is destroyed in a fire, you can take steps beforehand to ensure all your belongings are fully documented for your insurance company.
Perhaps the easiest do-it-yourself solution is to make a video walk-through or take a series of photographs of your home. Many of us have a smart-phone, this can be an easy way to quickly document our home’s property. This visual record can stand alone as your inventory, but for added security combine the photos with another inventory method. You can contact your insurance agent and ask for a home inventory checklist.
You can also choose to hire a home inventory company, although convenient, they can be expensive. If you choose this option, be sure to check the credentials of candidate companies carefully.
What Items Should You Include?
Your home inventory should support the claims process for events ranging from the total loss of your home by fire, or other named perils, to the burglary of a few specific items. Generally, this means the more items you inventory, the better.
A good way to ensure proper coverage is to move from room to room, recording items as you go. Pay special attention to the most valuable items, such as antiques, jewelry, and electronic equipment. Also, don’t forget to include items in your basement, attic, garage, and any detached structures, such as tool sheds.
Don’t forget to provide a brief description of each item, including brand name, model name, and serial number. Establish ownership by attaching receipts and/or photos whenever possible. Record the purchase or acquisition date for each item. Attach receipts, when possible. Attach receipts, credit card statements, or other documents of transaction. For appraisals on items such as antiques, art, jewelry and collectibles, be sure to include the name and address of the appraiser.
Most importantly, make copies of your documentation. Don’t let your home inventory become part of a property loss. Whichever inventory method you choose, be sure to keep a copy in a bank safe deposit box or other secure location away from your home.
Perhaps the easiest do-it-yourself solution is to make a video walk-through or take a series of photographs of your home. Many of us have a smart-phone, this can be an easy way to quickly document our home’s property. This visual record can stand alone as your inventory, but for added security combine the photos with another inventory method. You can contact your insurance agent and ask for a home inventory checklist.
You can also choose to hire a home inventory company, although convenient, they can be expensive. If you choose this option, be sure to check the credentials of candidate companies carefully.
What Items Should You Include?
Your home inventory should support the claims process for events ranging from the total loss of your home by fire, or other named perils, to the burglary of a few specific items. Generally, this means the more items you inventory, the better.
A good way to ensure proper coverage is to move from room to room, recording items as you go. Pay special attention to the most valuable items, such as antiques, jewelry, and electronic equipment. Also, don’t forget to include items in your basement, attic, garage, and any detached structures, such as tool sheds.
Don’t forget to provide a brief description of each item, including brand name, model name, and serial number. Establish ownership by attaching receipts and/or photos whenever possible. Record the purchase or acquisition date for each item. Attach receipts, when possible. Attach receipts, credit card statements, or other documents of transaction. For appraisals on items such as antiques, art, jewelry and collectibles, be sure to include the name and address of the appraiser.
Most importantly, make copies of your documentation. Don’t let your home inventory become part of a property loss. Whichever inventory method you choose, be sure to keep a copy in a bank safe deposit box or other secure location away from your home.
Tuesday, August 30, 2011
Do You Think You Need Flood Insurance?
With hurricane season coming upon us, it would be a wise choice to review your homeowner insurance. Flood coverage is not provided in your standard home owners insurance policy. Most people think, I don’t live near a body of water I don’t need it. But if water backs up or overflows from a sewer, drain or sump in to your home, guess what, it’s not covered.
“Standard homeowners policies cover structural and water damage when wind or a falling tree knocks a hole in a roof, or breaks a window, allowing rain to fall inside,” the Associated Press reports. “But there's generally no coverage for the home itself, or for personal belongings, when damage results from rising water. That includes water that seeps up from saturated ground through a basement floor, and homes near beaches flooded by storm surges.”
The take away, talk to your insurance company and understand the coverage you are paying for so you’re not left fixing something you thought would be paid for by insurance.
“Standard homeowners policies cover structural and water damage when wind or a falling tree knocks a hole in a roof, or breaks a window, allowing rain to fall inside,” the Associated Press reports. “But there's generally no coverage for the home itself, or for personal belongings, when damage results from rising water. That includes water that seeps up from saturated ground through a basement floor, and homes near beaches flooded by storm surges.”
The take away, talk to your insurance company and understand the coverage you are paying for so you’re not left fixing something you thought would be paid for by insurance.
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