As flooded Midwestern rivers overrun their banks and work their way southward, many families and businesses will be spending a lot of time cleaning up and filing insurance claims. To help them through this, members of the National Association of Public Insurance Adjusters have offered insight on coping with such a disaster and in dealing with an insurance company. “The resources and expertise available through the members of NAPIA are some of the best in…
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Since the latest flooding deluge, leaders in affected communities are warning citizens to not get taken by unscrupulous contractors or bogus insurance adjusters who claim to be legitimate. Residents have been advised to be leery of people going door-to-door offering help and seeking business, and to check the credentials of anyone before hiring anyone. Local police have warned that people posing as insurance adjusters have approached flooding victims and claimed to be there to assess the…
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Floods can happen anywhere, in all 50 states, with the risk coming from a variety of causes. Even those who don’t live next to a water source could be at risk from a springtime deluge, rapid snowmelt or a flash flood caused by rainfall or a levee break. In the spring the greatest risk is typically from rising water due to snow melt or heavy rains associated with thunderstorms. Additional risk comes from hurricanes, which can…
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Even homes not within a designated flood zone can be inundated with water from storms, a spring thaw or a creek overrunning its banks. The costs are considerable, as annual flood insurance losses from 2002 to 2011 totaled more than $2.9 billion, according to the National Flood Insurance Program. The Insurance Institute for Business & Home Safety is providing free guidance on ways home and business owners can reduce their risk of flood damage. Floods…
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When a flood strikes a business, the damage it causes comes from more than the initial deluge. On top of wiping out inventories and destroying equipment, a flood disrupts normal business operations that are key to staying financially afloat. Since most standard commercial property insurance polices don’t cover flooding, it’s important for any sized business to consider a separate flood insurance policy, according to the Insurance Information Institute. “Ninety percent of all natural disasters involve…
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As winter snows melt and temperatures warm, homeowners should be on the lookout for potential water damage from inside and outside the house. Water damage can generate significant economic losses for homeowners and renters alike, according to the Insurance Information Institute. Damage from frozen or burst pipes accounted for 22 percent of all U.S. homeowners insurance losses incurred in 2010, the most recent year for which data is available, according to ISO, a Verisk Analytics…
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No one likes spending more than they have to on anything, especially insurance, yet many people could be unaware they’re doing just that. Of course, cutting back on insurance in the wrong way could leave someone flat-flooted financially if they don’t have enough to cover a loss. “There are simple steps you can take to cut the cost of your home and auto insurance while continuing to be financially protected against a catastrophe,” Loretta Worters,…
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The significant flooding from Hurricane Sandy is a leading cause of damage to many homes affected by the storm, according to the Insurance Information Institute. Coverage for flood damage resulting from surface water, including storm surge caused by hurricanes is not covered under standard homeowners and renters insurance policies; however flood coverage is available both from the National Flood Insurance Program and from a few private insurance companies. Anyone with flood insurance who needs to…
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As survivors of Hurricane Sandy scramble to contact their insurance providers and file claims, they’re bound to have plenty of questions as to what’s covered. Survivors are encouraged to contact their insurance company or local agent as soon as possible to begin the claims process. For those facing such a process, the Insurance Information Institute offers a list of frequently asked questions that most consumers have after a storm: 1. Is wind damage covered under…
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Getting a car working again after a flood takes more than just drying the carpets and turning the key. Whether a car was hit by rising waters or a torrential downpour owners should be cautious before starting or even moving their vehicle, according to the National Automobile Dealers Association. “The amount of damage depends on how long a vehicle has been submerged and how deep,” Bill Underriner, NADA chairman, said in a statement. “A good…
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LOS ANGELES, Calif. — Thousands of residents from Los Angeles
When you’re young, long-term care insurance is not something
