fiscal planning key to hurricane season survival

Staying safe during tornado season means more than just where to hide

By Mike Mosser
Staying safe during tornado season means more than just where to hide

The southern states and east of the Rocky Mountains might be known as “tornado alley,” but a twister can strike nearly anywhere in the U.S. The key to surviving one starts with paying attention, having a plan and don’t stand in its path like Tim Samaras. As director of the scientific field program Tactical Weather Instrumented Sampling in Tornadoes EXperiment, Samaras’s work is featured on the Discovery Channel show “Storm Chasers.” He’s also the only…

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Weather-related catastrophes hit the U.S. hardest in 2012

By Consumer Insurance Guide Staff
Weather-related catastrophes hit the U.S. hardest in 2012

The U.S. accounted for a higher proportion of global natural catastrophe losses than usual in 2012 due to a series of severe weather-related catastrophes, according to global reinsurer Munich Re. For the year, natural catastrophes caused $160 billion in overall losses and $65 billion in insured losses worldwide. Some 67 percent of overall losses and 90 percent of insured losses were attributable to the U.S. – the respective averages are 32 percent and 57 percent….

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Checking the fine print when renewing homeowner’s policy

By Consumer Insurance Guide Staff
Checking the fine print when renewing homeowner’s policy

Few homeowners are likely to read the fine print on their homeowners insurance when a storm strikes it leaves them with a lot of questions that need answering. This becomes even more difficult at a time when more insurers are adding provisions to their policies that shift more risk and costs to homeowners, according to the Consumer Federation of America and United Policyholders. “Superstorm Sandy revealed many of the problems homeowners may encounter when navigating…

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Hurricane season over, but insurance needs remain

By Consumer Insurance Guide Staff
Hurricane season over, but insurance needs remain

The end of November marked the official end of hurricane season, yet recovery efforts continue. All told the 2012 hurricane season had 19 named storms and 10 hurricanes develop. Despite the ongoing multi-state recovery and relief effort associated with Superstorm Sandy, the U.S. was fortunate that only three tropical storms and one hurricane made landfall in 2012. Forecasters accurately predicted 12-17 named storms including 5-8 hurricanes. The take away message from the 2012 hurricane season…

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How to make the most of an insurance adjuster’s visit

By Consumer Insurance Guide Staff
How to make the most of an insurance adjuster’s visit

As survivors of Hurricane Sandy wait for the adjuster to show up, there are steps they can take to get their homes ready and make the most of the adjuster’s visit. It’s a key part of getting a damaged property repaired or replaced as soon as possible, according to the Insurance Information Institute. After reporting a claim, the insurance company will either send a proof of loss form, for the homeowner to fill out, or…

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Tips on fighting an insurance claim after Hurricane Sandy

By Consumer Insurance Guide Staff
Tips on fighting an insurance claim after Hurricane Sandy

Survivors of Hurricane Sandy might have another battle on their hands when it comes to dealing with their insurance company. Hurricane Sandy could result in several hundred thousand claims for wind damage by homeowners, as well as tens of thousands of federal flood insurance claims, according to the Consumer Federation of America. “Families should take every precaution to ensure their safety during this severe weather event, including evacuation if recommended by local authorities,”  J. Robert Hunter,…

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How to file an insurance claim after the storm passes

By Consumer Insurance Guide Staff
How to file an insurance claim after the storm passes

As survivors of Hurricane Sandy survey the damage and try to put things back to normal, one of their first calls will no doubt be to an insurance company. They’ll need to act quickly to document the damage and record all of their losses in order to protect their assets and file a claim. “Save all of your receipts from hotels and restaurants if you have been asked to evacuate to a safe area. You…

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Homeowners insurance does not cover damage from floods

By Consumer Insurance Guide Staff
Homeowners insurance does not cover damage from floods

Hurricane Sandy’s treatment of the East Coast offers a warning that floods aren’t just located in Florida and Louisiana. It’s also a reminder that homeowners need a separate flood policy to cover the damage. Flood insurance is available in the form of a separate policy from both the federal government’s National Flood Insurance Program and from a few private insurers. Properties situated in a designated flood zone generally have flood insurance policies covering them, according to the Insurance Information…

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Steps to take in preparing for Hurricane Sandy’s wrath

By Consumer Insurance Guide Staff
Steps to take in preparing for Hurricane Sandy’s wrath

Hurricane Sandy is a time to batten down the hatches and head for higher ground. For homeowners looking to secure their properties there are a number of steps they can take to prepare. There’s also things they’ll need to know dealing with the aftermath once it passes and their  hurricane deductible kicks into place. “As everyone who has lived through previous hurricanes knows, once even a little bit of water gets inside a house, it…

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